Among the strongest performers, Thermo Fisher Scientific rose 12%, topping the leaderboard for large-cap stocks, followed by T-Mobile US, up 9%.

A 15% tariff on Japanese imports could impact Hawaii businesses and consumers, affecting everything from electronics to industrial machinery.

President Trump will get to decide where to invest Japanese money and the United States will keep 90 percent of the profits, the White House said.

This week's U.S. trade agreement with Japan could provide a framework for a pact with the European Union, experts say.

President Trump announced deals with Japan, Philippines and Indonesia, but many other countries have yet to clinch agreements.

An emerging U.S.-Japanese trade deal could unlock major investment, avert a potential shock to the global economy and may deliver political wins for both U.S. President Donald Trump and Japanese Prime Minister Shigeru Ishiba,

While recession odds have been dialed back in recent weeks, economists surveyed by The Wall Street Journal still see 33% odds of one coming within a year, compared with 22% at the start of 2025. Meanwhile, earnings estimates for the S&P 500 compiled by research group FactSet are 3% lower since then, the Journal said.