US Stocks Rise For 3rd Day
US stocks edged higher on Wednesday (07/05), with the S&P 500 up 0.2%, the Nasdaq up 0.1% and the Dow Jones up about 170 points, bouncing back after two straight sessions of losses. Investor sentiment was lifted by news that formal US-China trade talks will take place later this week in Switzerland, with Treasury Secretary Bessent saying the meeting will focus on de-escalation rather than securing a deal.
However, this could mark the first step toward resolving the trade dispute and reducing tariffs. Meanwhile, traders are eagerly awaiting today's FOMC decision, with close attention on Chairman Powell's comments on the potential timing of an interest rate cut. On the corporate front, Disney shares jumped more than 9% after the company reported a surprise increase in streaming subscribers. Advanced Micro Devices rose 3.4% after delivering stronger-than-expected quarterly results. In contrast, Uber fell 6% after its revenue missed.
Source: Trading Economics