The U.S. struck major trade deals with Japan and the Philippines. Japan agreed to a 550 billion USD investment, market access and a 15% export tariff. The Philippines will pay 19% duty while accepting U.S. goods tariff-free. Trump claims huge job gains and profit share, boosting investor optimism.

National Association of Realtors released a report showing existing home sales in the U.S. pulled back by more than expected in the month of June. NAR said existing home sales slumped by 2.7% to an annual rate of 3.93 million in June after jumping by 1.0% to a revised rate of 4.04 million in May.

Oil service stocks turned in some of the market's best performances on the day, with the Philadelphia Oil Service Index spiking by 4.1%. Computer hardware stocks were substantially strong, as reflected by the 2.3% surged by the NYSE Arca Computer Hardware Index. Airline, pharmaceutical, networking and healthcare stocks also saw significant strength, moving higher along with most of the other major sectors.

Asia-Pacific stocks moved mostly higher. Japan's Nikkei 225 Index spiked by 3.5% while Hong Kong's Hang Seng Index jumped by 1.6%. The major European markets also moved to the upside on the day. While the French CAC 40 Index surged by 1.4%, the German DAX Index advanced by 0.8% and the U.K.'s FTSE 100 Index rose by 0.4%.

In the bond market, treasuries are giving back ground after moving higher over the two previous sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 4.4 basis points at 4.38%.

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