Stock Indexes Notch New Records to Cap a Turbulent Quarter
WSJ Minute Briefing
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Here's your closing bell brief for Monday, June 30th. I'm Danny Lewis for The Wall Street Journal. Stocks capped a turbulent quarter by notching new records, with both the S&P 500 and Nasdaq closing at all-time highs. The Dow Jones Industrial Average rose about 276 points to close at 44,095. The S&P 500 gained 32 points, and the Nasdaq advanced 96 points.
The quarter was shaped by a huge stock market drawdown over President Trump's trade war and the rebound that followed. Trade news continued to affect markets today as the U.S. and Canada resumed trade talks following the decision by America's northern neighbor to rescind its digital services tax.
Elsewhere in Washington, the Senate's voterama on Trump's Big Beautiful Bill is still underway as various GOP factions seek to push the bill in their favored direction. But even if the Senate passes the budget bill, getting the measure to Trump by Republicans' self-imposed Friday deadline will still require another vote from the House.
In individual companies trading today, stock in Robinhood markets surged after the online brokerage launched a new set of services for trading cryptocurrency and other digital assets. Shares rose 12.8%. Shares in some big banks rose after the Federal Reserve said all of the country's largest banks passed its regular stress test, including Goldman Sachs, whose shares advanced 2.5%, and Wells Fargo, which gained 0.8%.
And shares of building products distributor GMS jumped 11.7% after Home Depot won a bidding war to buy the company for about $4.3 billion. We'll have a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.