S&P 500 at record high: Is the worst of the trade war behind us?
With tariffs expected to weigh heavily on US companies’ profit margins this year, there might be limited upside for the index
THE S&P 500 surpassed its February peak last week, reaching multiple new all-time highs amid optimism over trade negotiations and confidence that the economy and corporate earnings can withstand the impact of tariffs.
On Jul 2, the United States reached a trade agreement with Vietnam, lowering tariffs on Vietnamese exports to 20 per cent from the 46 per cent announced on “Liberation Day”, while goods shipped through Vietnam will be taxed at 40 per cent.
Meanwhile, US non-farm payrolls rose by 147,000 in June, exceeding expectations of 110,000. The unemployment rate also unexpectedly fell from 4.2 per cent to 4.1 per cent.
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