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Record-breaking day on Wall Street for Nasdaq, S&P 500

Record-breaking day on Wall Street for Nasdaq, S&P 500

NEW YORK, New York -U.S. stock markets closed with broad gains on Thursday, led by strong performances in U.S. tech stocks, while European and Asian indices showed mixed movements.
The Nasdaq Composite and Standard and Poor's 500 hit new record highs following release of a favorable jobs report.
Nvidia closed with a market capitalization of $3.89 trillion, soon to eclipse Apple as the world's most valuable company.
"We are seeing a real bout of irrational exuberance; the stock market is very biased towards optimism," Kristina Hooper, Chief Market Strategist at Man Group in New York told CNBC Thursday. "But there's some basis for it. I think there is some level of relief because the jobs report was not as weak as it could have been."
U.S. Markets Rally
Canada Advances
S&P/TSX Composite (Canada) (^GSPTSE): Up 164.60 points (0.61 percent) to 27,034.26
UK and European Markets Mostly Higher
FTSE 100 (^FTSE): Up 48.51 points (0.55 percent) to 8,823.20
DAX (^GDAXI): Added 144.02 points (0.61 percent) to 23,934.13
CAC 40 (^FCHI): Edged up 16.13 points (0.21 percent) to 7,754.55
EURO STOXX 50 (^STOXX50E): Climbed 24.43 points (0.46 percent) to 5,343.15
Euronext 100 (^N100): Increased 3.87 points (0.25 percent) to 1,581.23
BEL 20 (^BFX): Declined 6.67 points (0.15 percent) to 4,486.13
Asia and Pacific Mixed
SSE Composite (China) (000001.SS): Edged up 6.36 points (0.18 percent) to 3,461.15
Nikkei 225 (Japan) (^N225): Inched up 23.42 points (0.06 percent) to 39,785.90
Hang Seng Index (^HSI): Fell 151.47 points (0.63 percent) to 24,069.94
STI Index (Singapore) (^STI): Gained 8.80 points (0.22 percent) to 4,019.57
S&P/ASX 200 (^AXJO): Slipped 1.90 points (0.02 percent) to 8,595.80
All Ordinaries (Australia) (^AORD): Rose 4.90 points (0.06 percent) to 8,833.60
S&P BSE SENSEX (India) (^BSESN): Dropped 170.22 points (0.20 percent) to 83,239.47
IDX COMPOSITE (Indonesia) (^JKSE): Down 3.19 points (0.05 percent) to 6,878.05
FTSE Bursa Malaysia KLCI (^KLSE): Fell 1.22 points (0.08 percent) to 1,548.99
S&P/NZX 50 (New Zealand) (^NZ50): Declined 79.81 points (0.62 percent) to 12,704.48
KOSPI (South Korea) (^KS11): Surged 41.21 points (1.34 percent) to 3,116.27
TWSE (Taiwan) (^TWII): Gained 135.23 points (0.60 percent) to 22,712.97
Middle East Markets Close Higher
TA-125 (Israel) (^TA125.TA): Rose 28.09 points (0.91 percent) to 3,106.80
EGX 30 (Egypt) (^CASE30): Increased 113.30 points (0.35 percent) to 32,820.50
Africa Gains
Johannesburg All Share (South Africa) (^JN0U.JO): Gained 48.24 points (0.89 percent) to 5,469.10.
Currency Markets
US Dollar Index (DX-Y.NYB): Strengthened 0.40 points (0.42 percent) to 97.18
MSCI Europe (^125904-USD-STRD): Rose 7.18 points (0.30 percent) to 2,429.92
British Pound Index (^XDB): Up 0.12 points (0.09 percent) to 136.48
Euro Currency Index (^XDE): Fell 0.42 points (0.36 percent) to 117.56
Japanese Yen Index (^XDN): Dropped 0.62 points (0.89 percent) to 68.96
Australian Dollar Index (^XDA): Slipped 0.11 points (0.17 percent) to 65.71
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Finance minister says Canada can negotiate better tariff terms with U.S. than other countries
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Article content Canada's finance minister said the country can negotiate a better trade deal with the Trump administration than other nations have received, pushing back on the idea that it may have to settle for a new baseline tariff on all exports to the U.S. Article content 'We buy more from the U.S. than China, Japan, the U.K. and France combined, so we're not in the same league as others,' Francois-Philippe Champagne said in an interview. Article content Article content 'The competitiveness of North America depends on what happens between Canada and United States,' he said, pointing to Canada's wealth of critical minerals and energy, the integrated supply chains across the border and its status as the largest supplier of aluminum to the U.S. Article content Article content Canadian Prime Minister Mark Carney and U.S. President Donald Trump have agreed to try to hammer out a deal by July 21 to govern the two countries' trade relationship, which saw them exchange more than $900 billion in goods and services last year. Article content The U.S. had a trade deficit of $36 billion with Canada in 2024, according to U.S. government data, mostly because it guzzles millions of barrels a day of Canadian oil and fuels. Excluding energy, the US had a trade surplus with its northern neighbor. Article content Article content The U.S., Canada and Mexico have an existing trade pact that Trump signed during his first term. But the president paid little heed to it as he placed import taxes of 50% on foreign steel and aluminum, along with levies on cars and trucks. Article content Article content 'The endgame for us is to have the best possible deal for Canadian workers and the Canadian industry,' Champagne said. 'We have, compared to many countries that are negotiating with the United States, already a trade agreement in place.' Article content The UK agreed to a framework that allows manufacturers to export as many as 100,000 vehicles a year to the US at a 10% tariff rate, but a higher tax remains on British steel. Under an agreement with Vietnam, the US will slap a 20% tariff on imports from the Asian country, Trump said this week. Meanwhile, the European Union is willing to accept a trade arrangement with the US that includes a 10% tariff on many of its exports, people familiar with the matter told Bloomberg News recently.

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