U.S. stocks are adding to their records as Wall Street nears the finish of a second straight winning month. The S&P 500 rose 0.3% Monday in its first trading after completing a stunning rebound from its springtime sell-off of roughly 20%. The Dow Jones Industrial Average added 218 points, and the Nasdaq composite gained 0.3%. Stocks got a boost after Canada said it’s resuming talks on trade with the United States after rescinding a planned tax on U.S. technology firms that had angered U.S. President Donald Trump. Treasury yields eased in the bond market.
Republican Sen. Thom Tillis of North Carolina says he won't seek reelection. That news Sunday comes one day after he announced his opposition to President Donald Trump’s tax breaks and spending cuts package because of its reductions to health care programs. The announcement from the two-term senator surprised senior Republicans with its timing, but not necessarily the substance. Tillis had planned to announce his reelection plans later this year, likely September at the latest, but had been heavily leaning in favor of retiring. That's according to a person close to the senator who was granted anonymity to discuss internal dynamics. His decision creates a political opportunity for Democrats seeking to bolster their numbers in the 2026 midterm elections.
The world’s nations are gathering in Spain for a high-level conference to tackle the growing gap between rich and poor countries and drum up the trillions of dollars needed to close it. The United States, previously a major contributor, has pulled its participation, so finding funding will be tough. The four-day Financing for Development meeting starting Monday in the southern city of Seville is taking place as many countries face escalating debt burdens, declining investments, decreasing international aid and increasing trade barriers. Co-hosts the United Nations and Spain believe the conference is an opportunity to reverse the downward spiral, close the staggering $4 trillion annual financing gap to promote development and bring millions of people out of poverty.
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