US Stocks Close Higher Amid US, China Trade Talks
(MENAFN) US stocks finished Tuesday’s session with gains, as market participants anticipated favorable developments from the ongoing US-China trade negotiations in London.
The S&P 500 increased by 0.55 percent, gaining 32.93 points, to close at 6,038.81. The Nasdaq composite climbed by 0.63 percent, ending at 19,714.99.
Meanwhile, the Dow Jones Industrial Average advanced by 0.25 percent, closing at 42,866.87 points.
Tesla, the electric vehicle manufacturer, saw a substantial rise of more than 5.6 percent on Tuesday, continuing its recovery from last week's sharp drop in value, which was sparked by CEO Elon Musk's contentious online exchange with United States Leader Donald Trump, marking what seemed to be the end of their political alliance.
The discussions between US and Chinese representatives began on the morning of the second day at Lancaster House in London, with talks continuing after lunch.
The main subjects of the negotiations were expected to include China’s limitations on rare earth exports to the US, Washington's restrictions on high-tech exports to China, and ongoing disputes over mutual tariffs.
US Treasury Secretary Scott Bessent, who represented Washington in the talks, commented that the meeting proceeded "well," while Commerce Secretary Howard Lutnick described it as "productive."
This diplomatic engagement followed a phone call between US President Donald Trump and Chinese President Xi Jinping last week, which Trump stated "resulted in a very positive conclusion for both countries."
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