U.S. Stocks Soar as Trade Talk Hype Sends Markets into Frenzy

Holy smokes, U.S. stocks are rocketing into the stratosphere this Monday morning! The S&P 500 is gunning for new heights, all thanks to the buzz around trade talks that's got the major indices buzzing like a beehive on steroids.

The S&P 500, fresh off smashing records last week amidst easing global tensions and investors betting big on rate cuts, kicked off the day with a sizzling 0.3% jump. Hold onto your hats, folks!

Confidence is soaring across the board, sending the Dow Jones Industrial Average skyrocketing 200 points and the Nasdaq climbing 0.4%. Every major stock market gauge is eyeing fresh all-time highs, and Wall Street is ready to close out June and Q2 of 2025 with a bang!

Tariffs and Trade Deals: The Rollercoaster Ride

This wild ride in the stock market is fueled by the growing optimism that the U.S. is on the brink of sealing some game-changing trade deals with its biggest partners.

We're talking China, the UK, the EU, and even Canada! The U.S. already has some trade agreements with China and the UK, but the clock's ticking towards the July 9 deadline for comprehensive deals or a return to tit-for-tat tariffs.

Nicholas Burns, a Harvard bigwig and former U.S. Ambassador to China, spilled the beans to CNBC on Monday. He said the U.S. and China might not be ready to ink a comprehensive deal just yet. But Burns reckons the U.S. can play hardball and squeeze more out of China while they've got the upper hand.

He dropped this bombshell on 'Squawk Box':

"We need more leverage on our side of the table, and it's there for the taking if we make China the centerpiece of this."

Meanwhile, there's fresh hope for talks between Canada and the U.S. after Canadian officials scrapped a retroactive digital services tax that had American tech giants in its crosshairs.

President Donald Trump called it a "blatant attack" on America last week and demanded a halt to any engagement. Tech stocks are popping champagne corks over the news!