U.S. Stocks Climb as U.S.-China Talks Signal Possible Deal
(MENAFN) U.S. stocks ended Tuesday in positive territory, buoyed by optimism surrounding high-stakes trade negotiations between the United States and China in London.
The S&P 500 advanced 0.55%, gaining 32.93 points to close at 6,038.81. The Nasdaq Composite climbed 0.63%, finishing the session at 19,714.99, while the Dow Jones Industrial Average inched up 0.25%, ending the day at 42,866.87.
Electric vehicle giant Tesla surged more than 5.6% during the trading session, extending its rebound following a sharp decline last week. The previous drop was sparked by a fiery online dispute between CEO Elon Musk and U.S. President Donald Trump, which appeared to dissolve their once-aligned political relationship.
Trade negotiators from both countries convened at Lancaster House in London for the second day of discussions, which began in the morning and resumed after lunch.
Key topics on the agenda included China’s export limits on rare earth minerals to the U.S., America’s curbs on high-tech shipments to China, and ongoing tensions over reciprocal tariffs.
Representing Washington, U.S. Treasury Secretary Scott Bessent remarked that the discussions went “well,” while Commerce Secretary Howard Lutnick described them as “productive.”
The diplomatic dialogue followed a phone call last week between U.S. President Donald Trump and Chinese President Xi Jinping. According to Trump, the conversation “resulted in a very positive conclusion for both countries.”
Both nations are looking to unwind several measures imposed since early April, when Trump implemented steeper tariffs on U.S. trading partners. They also aim to build on a May 12 agreement in Geneva, which established a 90-day freeze on most tariff-related actions.
However, recent weeks have seen mounting tensions, with each side accusing the other of reneging on the terms of that agreement.
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