Wall Street is experiencing a summer surge as markets recently recorded their strongest cross-asset advance in over a year, driven by diminishing concerns about a global trade war. This has triggered a buying frenzy across various investment sectors, including tech funds and junk bonds.
The S&P 500 achieved its first record high since February, marking a victory for investor optimism amid significant uncertainties regarding the economy, asset valuations, and government policies. The positive momentum was underscored when the White House unexpectedly announced on Friday its intention to halt negotiations with Canada concerning a digital services tax.