FX.co ★ US Stocks Tick Up on Trade Talk Optimism

As trading neared its close on Tuesday, Wall Street stocks experienced a slight uptick, sparked by investor attention on the progress of US-China trade negotiations. Optimism grew when Commerce Secretary Howard Lutnick commented favorably, stating that discussions were proceeding "really, really well." The S&P 500 advanced by 0.5%, approaching its record peak, while the Dow increased by 100 points and the Nasdaq gained 0.6%. The second day of trade discussions continued in London, with officials diligently working into the evening to finalize technical details, raising hopes for a resolution that could prevent additional tariff increases. The energy sector led the market rally, with health care and consumer discretionary stocks also posting gains, whereas industrials fell behind. Technology stocks received a boost, highlighted by a significant 5.4% rise in Tesla shares, which led the megacap category. In contrast, JM Smucker saw a drastic 14.9% drop after indicating that increasing tariffs were squeezing its coffee margins. Moderna's shares dipped by 1.2%, while Pfizer saw a 3% increase, following the unexpected dismissal of all CDC vaccine policy advisors by US Health Secretary Robert Kennedy Jr. late Monday evening.