- The S&P 500 and Nasdaq Composite hit record highs Friday.
- Canada rescinded its Digital Services Tax after U.S. President Donald Trump cut off U.S. trade talks.
- Tesla said it made the first driverless delivery of a new car to a customer.
Here are five key things investors need to know to start the trading day:
1. Over the June
The S&P 500 and Nasdaq Composite finally got their record highs on Friday after an impressive comeback from April trenches. With one trading day left in June, those major averages are up 4.4% and 6%, respectively. The Dow Jones Industrial Average is up 3.6% on the month. “Every chance the market has had to break down has failed. Instead, it continues to do what bull markets do best: climb the wall of worry. We think this run can continue, not without volatility to the downside of course,” said Ken Mahoney, CEO of Mahoney Asset Management. Futures tied to all three indexes were higher Monday morning. Follow live market updates.
2. Neighborly niceties
Canada’s Prime Minister Mark Carney welcomes U.S. President Donald Trump,as he arrives for the G7 Leaders’ Summit in Kananaskis, Alberta, Canada, June 16, 2025.
The U.S. and its northern neighbor have reached a truce — for now. Canada scrapped its digital services tax and agreed to resume trade negotiations with the U.S. that could ease months of tensions between the key allies and trading partners. President Donald Trump ended talks with Canada over the policy, which would have put a 3% levy on American tech giants like Google, Meta and Amazon retroactive to 2022. Canadian Prime Minister Mark Carney said he aims to strike a trade deal with the U.S. by July 21. “In our negotiations on a new economic and security relationship between Canada and the United States, Canada’s new government will always be guided by the overall contribution of any possible agreement to the best interests of Canadian workers and businesses,” Carney said.
3. Breathless, brokered breakthrough
As the U.S. and Canada broke an impasse, another massive piece of Trump’s agenda moved forward at home. Senate Republicans advanced the president’s sprawling tax cut and spending reduction plan after last-minute brokering to win over several GOP holdouts who had slammed the bill. The chamber’s Republicans aim to pass the legislation as soon as Monday and send it back to the GOP-controlled House, which hopes to approve it by Trump’s arbitrary July 4 deadline. There’s no guarantee House Republicans will line up behind the plan after senators made key changes to a previous version. The bill extends Trump’s 2017 tax cuts — which experts have said benefit businesses and the wealthiest Americans the most — and makes steep cuts to the federal-state Medicaid insurance program. It could add more than $3.9 trillion to the national debt, according to a Congressional Budget Office analysis.
4. Deliver unto us
A Tesla store in Colma, California, US, on Monday, April 21, 2025.
Elon Musk said a Tesla EV delivered itself to a customer using driverless technology for the first time. The Model Y routed from Tesla‘s Austin, Texas, Gigafactory to an area apartment building in about 30 minutes. It’s a notable milestone in the company’s complex history with driver-assist systems and as it navigates shrinking sales amid heightened competition. The U.S. EV leader, which has seen its stock increase 300-fold since its Nadsaq debut 15 years ago, is hanging its future on the success of autonomous technology. “If somebody doesn’t believe Tesla’s going to solve autonomy, I think they should not be an investor in the company,” Musk said during an earnings call last year. “We will, and we are.”
5. Doing it for the Ram
Ram Trucks CEO Tim Kuniskis inside the brand’s Ram 1500 NASCAR Truck Series concept.
Ram CEO Tim Kuniskis has an 18-month turnaround plan for the auto brand, which has been dealing with yearslong sales declines. Kuniskis said he came back to the job at Ram Trucks late last year after a seven-month retirement — and after the previous CEO of parent company Stellantis stepped down — because he “missed the fight.” Since his return, Ram has laid out a plan to make 25 announcements to reinvigorate the brand. So far, those announcements have included a return of Hemi V8 engines, a marketing move with mechanical bulls and an industry-leading warranty plan, among other things.
— CNBC’s Pia Singh, Lim Hui Jie, Erin Doherty, Lora Kolodny, Ari Levy and Michael Wayland contributed to this report.
