Wall Street hits new records as Dow and S&P reach highs
Stocks rose broad based supported by a weaker dollar and upbeat data. The Dow topped its January peak, the S&P 500 set a fresh high, while the Nasdaq and Russell 2000 advanced. Energy declined as oil fell. tariffs, rates, and export strength shaped the mood.
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Buoyant stock gains widen wealth gap to record 106.9 trillion
The Fed says U.S. household wealth rose to a record 106.9 trillion in Q2 as stock and home values climbed. Gains skew toward the affluent, with the top 10 percent owning about 84 percent of stocks, while middle and lower income households save and spend cautiously amid persistent disparities.
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U.S. tariff hike targets Chinese goods amid trade tensions
The United States will impose a 10 percent tariff on 200 billion dollars of Chinese imports starting Monday, rising to 25 percent on January 1. Beijing vows countermeasures, targeting about 60 billion dollars of U.S. goods including coffee honey and industrial chemicals with retaliatory taxes.
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Negotiators push to reinstate Canada in revamped NAFTA
U S and Canadian officials work around the clock to seal a deal before the September 30 deadline. Chrystia Freeland says talks are continuous with U S Trade Rep. Robert Lighthizer as Canada seeks reentry to the NAFTA framework ahead of a public text release.
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