Wall Street's main indexes moved higher on Wednesday after a Financial Times reported that the EU and the United States were closing in on a trade deal, similar to the agreement U.S. President Donald Trump struck with Japan.

Asian equities posted strong gains overnight, led by Japan, which rallied on news of its new trade agreement with the United States.

The agreements have been overshadowed by U.S. firms issuing warnings about how the tariffs will impact their bottom lines and prolong uncertainty in the U.S. economy.

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

While the announcement was cause for optimism ahead of Aug. 1, analysts remained concerned about the steep tariffs still looming for key trading partners such as Brazil and the EU.

An additional $5,000 per month will be disbursed to each lawmaker to pay for personal security through the end of the year. In 2024, the US Capitol Police investigated more than 9,000 threats against lawmakers,

Seoul will take a close look at the terms of a U.S.-Japan trade deal, South Korea's industry minister said on Wednesday, holding out the prospect of greater cooperation in the energy and industrial sectors ahead of key trade talks in Washington.