S&P 500 hits new record high, Dow Jones closes above 45,000 pts

US stocks rose at the close of July 23’s trading, reaching new record highs, driven by increased investor risk appetite following the Trump administration’s trade agreement with Japan and reports of progress in negotiations with the European Union.

The Dow Jones Industrial Average edged up 1.14%, 507 points (pts), to 45,010 pts.

Likewise, the S&P 500 Index increased 0.78%, or 49 pts, to 6,358 pts, setting a new record high due to an eight-session winning streak and the Nasdaq Composite rose by 0.61%, or 127 pts, to 20,020 pts.

As for the European indices, STOXX Europe 600 added 1.10% to 550 pts, supported by positive performance across major stock exchanges.

Germany’s DAX rose by 0.85% to 24,240, while France’s CAC rose by 1.35% to 7,850. The UK’s FTSE 100 advanced 0.40% to 9,061, closing at a new record high.

In Japan, Nikkei 225 climbed 3.5% to 41,171, after reaching 41,342 pts, its highest close since July 17, while the broader Topix index added nearly 3.2% to end at 2,926 pts.

In the oil market, futures contracts for Brent crude for September delivery dropped 0.12%, or 8 cents, to $68.51 per barrel.

West Texas Intermediate (WTI) crude futures for September delivery declined by 0.10%, or 6 cents, to $65.25 a barrel.

As for gold, futures prices for the yellow metal for August delivery declined by 1.33%, or $46.1, to $3,397.60 per ounce.

Investor sentiment toward risk assets improved after the US President announced, on July 23, the conclusion of a trade agreement with Japan, setting import tariffs on Japanese goods at 15%.

Meanwhile, Bloomberg reported, citing diplomatic sources, that trade talks between the US and the European Union have made progress toward an agreement to set tariffs on imports from the bloc at the same 15% rate.