Wall Street stocks gained on Tuesday as investors awaited the outcome of ongoing trade talks between the United States and China.
As of 12:23 PM Eastern time, the S&P 500 was 0.3% higher, the Dow Jones Industrial Average was up 0.1%, and the Nasdaq Composite was 0.3% higher.
At 10:03 AM ET, the Dow Jones Industrial Average fell 20.22 points, or 0.05%, to 42,742.88, the S&P 500 gained 10.30 points, or 0.17%, to 6,016.18 and the Nasdaq Composite gained 53.92 points, or 0.28%, to 19,645.16.
At the opening bell, the Dow Jones Industrial Average fell 23.5 points, or 0.05%, to 42,738.27. The S&P 500 rose 4.0 points, or 0.07%, to 6,009.91, while the Nasdaq Composite rose 28.9 points, or 0.15%, to 19,620.108.
US Commerce Secretary Howard Lutnick said trade talks with Beijing were going well as officials from the two nations met for a second day in London.
The Trump administration was likely to agree to lift export controls on some semiconductors in return for China speeding up the delivery of rare earth elements, White House economic adviser Kevin Hassett said on Monday.
World Bank on Tuesday said trade war fueled by US President Donald Trump’s tariffs are expected to slow down economic growth this year in the United States and around the world.
The 189-country lender predicted that the US economy would grow half as fast (1.4%) this year as it did in 2024 (2.8%).
Investors are awaiting US inflation data due on Wednesday for clues on the Federal Reserve’s monetary policy path.
In the bond market, the yield on the 10-year Treasury fell to 4.47% from 4.49% late on Monday.
Gainers and Losers
McDonald’s shares dropped 1.4% after a report said Redburn Atlantic downgraded the fast-food giant to “sell” from “buy”.
Among megacap stocks, Tesla advanced 2.6%, Apple gained 1.03%, Nvidia fell -0.05%, and Microsoft lost 0.69%.
Shares of Insmed climbed 27.7% after the drugmaker said its experimental drug significantly reduced blood pressure in the lungs and improved exercise capacity in patients in a mid-stage study.
Bullion
Gold prices edged up on Tuesday amid ongoing geopolitical tensions.
Spot gold rose 0.3% to $3,335.79 an ounce as of 10:15 AM EDT (1415 GMT) and US gold futures gained 0.1% to $3,357.50.
Spot silver fell 0.8% to $36.42 per ounce. Platinum lost 0.4% to $1,214.29. Palladium dropped 1% to $1,064.08.
Crude oil
Oil prices rose on Tuesday as the market awaits the outcome of a second day of the US- China trade talks.
Global benchmark Brent rose above $67 a barrel and West Texas Intermediate neared $66, levels last seen in April.
