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yesterday

Global Stocks Rally to New Highs as Trade Optimism Meets Overbought Signals

Investors are bracing for volatility from the looming July 9 tariff deadline, with key economic releases and a Senate showdown over the president’s tax-spending plan on the horizon.

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A board above the trading floor of the New York Stock Exchange shows the closing number for the S&P 500, Friday, June 27, 2025. (AP Photo/Richard Drew)

Overview

  • The S&P 500 and Nasdaq Composite closed at record highs on June 27, and futures pointed to further gains in early trading.
  • A rare overbought technical signal on the S&P suggests the rally may be vulnerable to a pullback.
  • Optimism over U.S. trade negotiations has lifted markets ahead of the July 9 deadline for pausing reciprocal tariffs.
  • Traders have priced in Federal Reserve rate cuts later in the year following soft economic data and the confirmation of bank resilience in recent stress tests.
  • Attention now turns to upcoming U.S. non-farm payrolls, ISM sector surveys and a Senate vote on President Trump’s $4.5 trillion tax-spending bill.