12:20 PM EDT, 06/30/2025 (MT Newswires) -- US equity indexes rose in midday trading, with the Nasdaq Composite and S&P 500 making new record highs intraday, as the Trump administration made progress in international trade deals.

The Nasdaq was up 0.1% to 20,300.4 after earlier hitting an all-time high of 20,378.31. The S&P 500 added 0.2% to 6,183.6, trading close to its new peak of 6,195.34 intraday. The Dow Jones Industrial Average climbed 0.4% to 43,969.8, heading toward its record of 45,073.63. Financials led the gainers intraday, while real estate and consumer discretionary were among the steepest decliners.

Canada rescinded its Digital Services Tax to advance trade talks with the US. "Canada's preference has always been a multilateral agreement related to digital services taxation," Canada's Department of Finance said Sunday. Trade negotiations are set to resume by July 21.

The US and China have agreed to formalize their trade understanding reached in Geneva in May, it emerged last week. More announcements are due from several countries, including India, South Korea, and Taiwan. President Trump told Fox News recently that he doesn't think he'll need to extend the July 9 tariff deadline for countries to make trade deals with the US.

Meanwhile, Trump's budget reconciliation 'Big Beautiful Bill' cleared a key milestone Saturday when the US Senate voted 51-49 in favor of advancing it for debate on the floor.

Tesla (TSLA) Chief Executive Elon Musk criticized the Senate version of the budget bill, saying that proposed cuts to electric vehicles and other clean energy credits would harm the US. "The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country," Musk said in a social media post, describing it as "utterly insane and destructive."

Treasury yields were mixed, with the 10-year down 2.4 basis points to 4.26% and the two-year little changed at 3.74%.

West Texas Intermediate crude oil futures fell 1.2% to $64.72 a barrel.

Gold futures rose 0.4% to $3,299.11 per ounce.