Investors overlook the high infection rates, taking the view that, overall, the situation is still improving supported by week featuring strong data.
Economists have estimated a record US job addition of 3 million in June, which would be the most since the government started keeping records in 1939.
The USMCA trade pact between the United States, Canada and Mexico, replacing NAFTA, takes effect on Wednesday under record recession in years.
A fresh batch of gloomy economic data and investors’ fears about sharp spikes in new coronavirus infections outshined a strong quarterly rebound.
The International Monetary Fund said the coronavirus pandemic causes a much sharper recession than initially expected and the recovery has a long way to go.