Wall Street stocks end higher on Nvidia, trade talks hopes
U.S. stock indexes closed higher on Tuesday, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on Washington's tariff plans.
President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said on Monday, days after Trump accused China of violating a Geneva agreement to roll back tariffs and trade restrictions. Beijing said it would safeguard its interests and that the accusation was groundless.
The Trump administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters.
In May, a softening of Trump's harsh trade stance allowed a recovery in risky assets, with the benchmark S&P 500, and the tech-heavy Nasdaq, posting their biggest monthly percentage gain since November 2023.
According to preliminary data, the S&P 500, gained 34.59 points, or 0.58%, to end at 5,970.53 points, while the Nasdaq Composite, gained 157.54 points, or 0.82%, to 19,400.15. The Dow Jones Industrial Average, rose 219.19 points, or 0.52%, to 42,524.67.
Information technology stocks, rose, boosted by gains in Nvidia. Chipmaker Broadcom, hit a fresh record high after the company said it has begun to ship its latest networking chip that aims to speed AI.
Source : Reuters
