The S&P 500 and Nasdaq advanced on Wednesday, gaining 0.5% and 1%, respectively, with the S&P 500 closing at a new record high. Markets were buoyed by strong tech gains and news of a trade agreement between the US and Vietnam, which includes 20% tariffs on certain Vietnamese imports. Investor sentiment was further supported by renewed trade optimism and softer-than-expected labor market data, fueling speculation that the Federal Reserve may cut interest rates soon. Apple, Nvidia, and Tesla led the tech-driven rally, helping the Nasdaq climb nearly 0.8%. However, ADP data revealed an unexpected drop of 33K private-sector jobs in June - the first decline in over two years - raising fresh concerns about labor market softness. Meanwhile, attention also turned to President Trump’s sweeping tax-and-spending bill, which cleared the Senate and now heads to the House. The bill, projected to add $3.4 trillion to the national debt, remains a source of political contention.