New record S&P 500 noted in its closure Wall Street On Wednesday (2.7.2025), after US President Donald Trump announced a trade agreement between the US and Vietnam.
Specifically, Wall Street’s S&P 500 recorded a new intra -conference high of all time and closed at a record level. The Nasdaq Composite rose by 0.94% and scored a record at 20,393.13 points, while the Dow Jones industrial average fell by 10.52 points (0.02%) and closed at 44.484.42 points.
The S&P 500 saw a boost after Trump’s post on Truth Social on the US and Vietnam agreement on a 20% duty on imports from Vietnam. Nike’s shares, which builds about half of its footwear in Vietnam as well as in China, also rose 4% after the announcement.
Earlier on Wednesday, the shares were pressured after the last ADP report showing that the private sector lost 33,000 jobs last month. This marks the first monthly reduction in ADP’s payroll report since March 2023. Economists who participated in a Dow Jones poll expected that payrolls would increase by 100,000.
“Honestly, we see a weakening of the labor market for months, and I was always wondering if it would need a negative payroll printing to make (US Federal Bank) to pay a little more attention to the labor market as opposed to the image of inflation,” Ross Mays told CNBC. Adding: “This is, on this front, what we hope will draw some attention.”
Certainly, the ADP report has a miserable record that provides for the monthly government report on non -agricultural payrolls, which is expected to be published on Thursday (3.7.2025). Economists expect an increase of 110,000 jobs for June.
However, if the upcoming jobs follow the ADP report on expectations, a Fed interest rate reduction may be on the table when policymakers meet later this month, according to CFRA Research’s Sam Stovall. Expectations have already increased to reduce interest rates by the FED at July’s meeting, as the CME Group’s Fedwatch tool shows a possibility of decreasing by about 23%, from almost 21% a day before.