US Stock Market Close: US-UK Trade Deal Boosts Market, All Three Major Indexes Close Higher, Nasdaq Rises Over 1%

On Thursday, Eastern Time, buoyed by news of a trade deal between the US and the UK, the three major US stock indices closed collectively higher, with the Nasdaq rising by 1%.

(Minute-by-minute charts of the three major indices, source: TradingView)

By the close of trading, the Dow Jones Industrial Average rose by 0.62% to 41,368.45 points; the S&P 500 rose by 0.58% to 5,663.94 points; and the Nasdaq Composite rose by 1.07% to 17,928.14 points.

On Thursday, US President Trump announced at the White House the framework of a trade deal between the US and the UK, with UK Prime Minister Starmer participating via speakerphone. This is the first trade agreement the US has reached with another country since Trump announced the so-called reciprocal tariff in early April.

According to charts released by Trump on Truth Social, the US benchmark tariff on the UK is 10%. However, Trump noted that the 10% rate would likely be the lower end of the tariff levels in the trade deal, with some countries facing significantly higher tariffs due to their substantial trade surpluses with the US.

Beyond this, Trump did not disclose further details, and no formal agreements were signed during the meeting.

Trump indicated that more agreements are in the works. "Every country wants a deal," he said.

Trump also mentioned that the US is currently negotiating trade issues with the EU.

The EU has stated that if negotiations collapse, it is prepared to impose tariffs on over $100 billion worth of US products, including automobiles and aircraft.

Boeing shares rose more than 3% after Trump announced that the UK had agreed to a $10 billion purchase agreement for Boeing aircraft.

Alphabet, Google's parent company, saw its shares rise nearly 2% after issuing a statement that Google's search query volume was still growing, refuting media reports citing Apple executives that claimed "Google search usage on Safari browsers had declined."

Thanks to the US-UK trade deal, Bitcoin broke through the $100,000 mark for the first time in months.

Performance of Popular Stocks

Large-cap tech stocks collectively rose, with Apple up 0.63%, Microsoft up 1.11%, NVIDIA up 0.26%, Google up 1.92%, Amazon up 1.79%, Meta up 0.20%, and Tesla up 3.11%.

Popular Chinese ADRs generally rose, with the Nasdaq Golden Dragon China Index up 0.97%. Alibaba rose 2.08%, JD.com rose 0.89%, Pinduoduo rose 0.47%, NIO rose 3.12%, XPeng Motors rose 2.19%, Li Auto rose 3.58%, Bilibili rose 1.76%, Baidu rose 1.10%, NetEase rose 0.01%, and Tencent Music fell 0.28%.

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