According to a report from Jin10, on June 27, driven by the latest developments in trade disputes and U.S. congressional budget negotiations, the U.S. stock market reached new highs on Friday. Both the S&P 500 index and the Nasdaq Composite index set new records, as investors increasingly ignored the economic threats posed by the trade war and instability in the Middle East. U.S. Secretary of Commerce and Treasury Secretary Becerra both stated that the U.S. is close to reaching many trade agreements. Becerra mentioned that Washington hopes to complete trade negotiations with a dozen countries before early September.