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Stocks Edge Up on Trade Deal Hints but S&P 500 Resistance Holds
Stocks Edge Up on Trade Deal Hints but S&P 500 Resistance Holds
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Markets showed cautious Optimism as former President Trump hinted at upcoming trade agreements, including a draft deal with the UK—the first since April’s tariff updates. The Dow rose 0.2%, while the S&P 500 and Nasdaq gained 0.4% and 0.6% respectively. Yet the S&P failed to breach a critical resistance level, closing at 5,564 and leaving traders in familiar stagnation.
Trump’s Truth Social post touting "GREAT" pending deals failed to catalyze a breakout. The stalemate reflects broader market uncertainty, with equities trapped in a weeks-long holding pattern despite intermittent geopolitical developments.
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