US stocks extended their gains on Monday, adding to all-time highs as Wall Street moved closer to wrapping up a second straight monthly advance. Early gains were driven by easing trade tensions and a flurry of corporate activity, while investors awaited key economic data later this week.The S&P 500 rose 0.2% in early trading, after completing a sharp rebound from a springtime slump. The Dow Jones Industrial Average climbed 142 points or 0.3%, while the tech-heavy Nasdaq composite was up 0.2%, AP reported.Stocks got a lift after Canada reversed its plan to impose a tax on US tech companies and resumed trade talks with the United States. US President Donald Trump, who had suspended talks in response to the proposed levy, had called the tax “a direct and blatant attack on our country.”Markets have been buoyed by hopes that the Trump administration will finalise trade deals with key partners to avoid the implementation of additional tariffs. The US currently imposes a baseline 10% tax on imports, alongside specific levies on Chinese goods, steel, and autos. Several of Trump’s announced tariffs are on pause but could go into effect in just over a week.Trump told Fox News on Sunday that countries would soon be notified that tariffs will be enforced unless trade deals are reached.Shares of GMS soared 11.3% after the building materials supplier agreed to a $5.5 billion cash acquisition by a Home Depot subsidiary, at $110 per share. The move came shortly after a competing $95.20 per share offer from QXO. Following the news, QXO shares rose 2%, while Home Depot traded flat.Hewlett Packard Enterprise (HPE) rallied 12% and Juniper Networks surged 8.4% after both firms reached an agreement with the US Department of Justice that could allow their $14 billion merger to proceed, pending court approval.In the bond market, US Treasury yields edged lower ahead of the June jobs report, due Thursday. The 10-year yield slipped to 4.26% from 4.29% on Friday.Economists expect the June report to show hiring slowed to 115,000 new jobs from 139,000 in May. Weaker job growth has kept the Federal Reserve from adjusting interest rates this year, with Chair Jerome Powell signalling caution until the economic impact of tariffs becomes clearer.Trump has continued to press for rate cuts, and two of his appointees have hinted at supporting a reduction at the Fed’s upcoming meeting.European stock indexes were modestly lower, while Asian markets closed mixed. Hong Kong’s Hang Seng fell 0.9%, but Shanghai gained 0.6% after China reported slightly improved factory activity in June. The data followed a pause in tariff hikes between Washington and Beijing but showed manufacturing remained in contraction
