ISTANBUL

US stocks ended mostly higher Wednesday following President Donald Trump's announcement of a trade deal with Vietnam.

The Dow Jones Industrial Average was down slightly by 0.02%, or 10.52 points, to close at 44,484.42.

The S&P 500 meanwhile rose 0.47% to close at new record high of 6,227.42. The index had reached record highs Friday and Monday.

The Nasdaq Composite gained 0.94%, or 190.24 points, to finish at 20,393.13, also a new record high.

Trump announced Wednesday that the US has reached a trade deal with Vietnam after speaking to Vietnamese Communist Party General Secretary To Lam.

"It will be a Great Deal of Cooperation between our two Countries," he posted on his Truth Social platform. "The Terms are that Vietnam will pay the United States a 20% Tariff on any and all goods sent into our Territory, and a 40% Tariff on any Transshipping.”

The US will have "total access" to Vietnam’s markets for trade, he said. "We will be able to sell our product into Vietnam at ZERO Tariff."

"It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines within Vietnam," he added.

Shares of Nike, which produces nearly half of its footwear in Vietnam and China, were up 4% after the announcement.

In addition, according to Politico, Vietnam is preparing to confirm an $8 billion purchase of 50 Boeing aircraft.

The Southeast Asian country is positioned to finalize the long-discussed aircraft purchase alongside existing agreements to buy $2.9 billion in US agricultural products.

On the macroeconomic data side, ADP's monthly employment data showed that the US lost 33,000 jobs in June, marking the first monthly decline since March 2023.