Wall Street is riding high again. U.S. stocks climbed even further into record territory on Monday, capping off a second straight winning month and shaking off the spring’s nerve-wracking sell-off.
The S&P 500 rose another 0.5% to notch fresh highs, while the Dow Jones Industrial Average added 275 points, or 0.6%. The tech-heavy Nasdaq rose by 0.5%. Investors cheered news that Canada will drop its planned tax on U.S. tech companies, paving the way for renewed trade talks. The thaw comes just days after President Trump froze negotiations in protest, calling the tax a “blatant attack.”
Behind the scenes, investors are still watching Trump’s next moves on tariffs. Many proposed tariffs remain on hold for now, but history shows that a booming stock market sometimes tempts new trade tensions — a pattern that could play out again if deals stall.
Big names made big moves: Oracle jumped 4% after boasting about massive new cloud deals that could eventually add over $30 billion in annual revenue. GMS, a specialty building supplier, soared nearly 12% after agreeing to a $5.5 billion buyout by a Home Depot subsidiary, beating a competing bid from QXO.
Tech wasn’t the only bright spot. Hewlett-Packard Enterprise and Juniper Networks surged over 8% after reaching an antitrust deal that could green-light their $14 billion merger. Meanwhile, big banks like JPMorgan and Citigroup climbed as the Federal Reserve signaled that lenders are strong enough to weather a downturn.
Investors are now bracing for Thursday’s closely watched jobs report. It’s expected to show a slowdown in hiring — a trend that could influence whether the Fed holds steady on interest rates or gives in to pressure for cuts. For now, Wall Street is celebrating a winning streak that shows no sign of cooling off.
