NEW YORK - Wall Street stocks pushed into new record territory on Monday amid optimism the United States would reach trade deals ahead of a self-imposed deadline next week and extend tax cuts.
Canada said on Sunday it would restart trade negotiations with the United States after it rescinded a tax affecting US tech firms that had prompted US President Donald Trump to halt talks.
That boosted optimism that other governments would make deals with Trump to avoid his steep levies, as the July 9 cut-off for tariff reprieve looms.
"Investors seem confident trade deals will be struck, geopolitical tensions ease and a major economic slump is avoided," said Dan Coatsworth, investment analyst at AJ Bell.
"The big unknown is whether investors are correct or are simply being too complacent," he added.
Officials from Japan and India have extended their stays in Washington to continue talks, raising hopes for agreements with two of the world's biggest economies.
On Wall Street, both the S&P 500 and Nasdaq Composite finished higher in the final session of the second quarter, adding to last week's records.
The S&P 500 finished at 6,204.95, up 0.5 percent for the day and around 10.6 percent for the quarter.
Trade optimism also helped boost most Asian stocks but Europe's main indices slid lower.