Stocks hold onto gains after President Trump says the U.S. is very close to a trade deal with the EU, sees a deal being reached with China, and says there’s a “good chance” he could meet with Iran’s Rouhani.
Topics were among several addressed at a joint press conference with French President Emmanuel Macron after the G-7 summit in Biarritz, France, ended.
The Nasdaq rises 0.9%, and the S&P 500 gains 0.7% and Dow both is up 0.8% in midday trading in New York.
Macron also said that France would scrap its digital tax once a “modernized” international tax plan is implemented.
By S&P 500 industry sector, information technology (+1.1%) and communication services (+1.0%) outpace the broader market, while materials (+0.5%) and financials (+0.5%) lag.
10-year Treasury yield falls a basis point to 1.527%.
The Dollar Index gains 0.4% to 97.99.
Crude slips 0.1% to $54.11 per barrel, after rising earlier in the session.
Across the Atlantic, the Stoxx Europe 600 Index closes roughly flat at 371.28 and Germany’s DAX closes up 0.4%.
Cboe Volatility Index is still relatively elevated, up 2.8%, at 20.42.