As the United States accelerates negotiations with its trading partners, the New York Stock Exchange closed strong on the 23rd (local time).
On that day, the Dow Jones Industrial Average closed at 40,510.29, up 507.85 points (1.14%) from the previous session. The Standard and Poor's (S&P) 500 index finished at 6,358.91, up 49.29 points (0.78%), while the tech-focused Nasdaq index closed at 21,020.02, up 127.33 points (0.61%).
The S&P 500 index set a new closing record for the third consecutive transaction day. This marked the 12th record this year. The Dow index, composed of 30 blue-chip stocks, recovered to the 40,000 level for the first time in over seven months, closing in on last December's peak.
The market reacted to reports that the U.S.-Japan trade negotiations had reached a conclusion and that an agreement with the European Union (EU) was imminent. U.S. President Donald Trump noted the previous day that the U.S. had completed trade negotiations with Japan, stating that the reciprocal tariff on Japanese imports is 15%. There is also growing optimism that major nations will reach agreements ahead of the negotiation deadline on August 1.
As the New York Stock Exchange continues its upward trend, investment in "meme stocks" (stocks experiencing a surge in popularity among individual investors online) is also increasing. The portable camera equipment company GoPro surged by 73% during the session but closed with a 12% increase compared to the previous session as its stock price fluctuated. Doughnut franchise Krispy Kreme also saw its stock rise nearly 40% shortly after the market opened.