US Stocks Hit Highs After Vietnam Trade Deal

U.S. stock markets reached new record highs after President Donald Trump announced a trade deal with Vietnam, with the S&P 500 and Nasdaq closing at all-time highs while the Dow Jones ended nearly flat. The agreement imposes a 20% tariff on Vietnamese exports and a 40% tariff on transshipped goods, while U.S. products gain tariff-free access to Vietnam. Apparel stocks such as Nike, Gap, and Lululemon rallied as the deal averted higher threatened tariffs and supply-chain disruptions. Tesla shares rose about 5% as its sales decline was less severe than anticipated. Treasury yields increased as investors considered the fiscal impact of Trump's proposed tax and spending package. The market's positive momentum was moderated by a disappointing ADP jobs report showing private sector job losses, with attention turning to the upcoming government employment data.