US Markets Today: S&P 500, Dow Jones Rise As US-China Trade Talks Progress
The yield on the 10-year Treasury bond was flat at 4.46%.
Wall Street got some momentum on Tuesday as talks between the US and China proceeded to a second day in London, lending hopes for a truce in the bruising trade war.
The S&P 500 rose 0.23% to 6,020 points, while the 30-stock Dow Jones Industrial Average was flat around 42,760. The tech-heavy Nasdaq Composite was up 0.33% at 19,655.
The teams led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng reconvened in London. US Commerce Secretary Howard Lutnick told the media that the talks are going well and are expected to continue all day, Bloomberg reported.
Hopes that President Donald Trump will lower his tariffs after reaching trade deals with countries around the world have powered the S&P 500’s nearly 21% rally since the lows hit in April.
Seven of the 11 sectoral indices on the S&P 500 were trading in the green, led by energy and telecom. Industrials and utilities saw declines.
The S&P 500 and Nasdaq posted slight gains on Monday, while the Dow ended marginally below the flatline.
The yield on the 10-year Treasury bond was flat at 4.46%.
The US dollar was largely unchanged against major currencies. The dollar index was flat at 98.95. The pound was down 0.2% and the yen slipped 0.1%. The euro traded 0.1% higher.
Spot gold prices gained 0.2% to $3,332 an ounce.
International benchmark Brent oil jumped nearly 1% to $67.7 per barrel as the market awaited the outcome of US-China trade talks. Prices received further boost after the European Union proposed banning the Nord Stream pipelines and cutting the G7 oil price cap to $45 as part of a new sanctions package that aims to increase pressure on Russia to end its war against Ukraine.
