Wall Street Live: Stocks muted as investors await outcome of US-China trade talks
Wall Street stocks were muted on Tuesday as investors awaited the outcome of ongoing trade talks between the United States and China.
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.
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AI spending spree by big tech sparks investor concern over profits
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AI Bounce Of course, investors still have a hearty appetite for the technology giants given their dominant market positions, strong balance sheets and profit growth that, while slowing, is still beating the rest of the S&P 500. This explains the strong performance of AI stocks recently. Since April 8, the day before President Donald Trump paused his global tariffs and turned a stock market swoon into a boom, the biggest AI exchange-traded fund, the Global X Artificial Intelligence & Technology ETF, is up 34per cent, while AI chipmaker Nvidia Corp. has soared 49per cent. Meta has gained 37per cent, and Microsoft has climbed 33per cent — all topping the S&P 500's 21per cent advance and the tech-heavy Nasdaq 100 Index's 29per cent bounce. 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Transcript Hi, you're listening to ET Markets Radio, I am your host, Neha Vashishth. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it: Sensex and Nifty closed higher, led by IT and oil & gas stocks. Sensex rose 123 pts, Nifty closed above 25,140. This was mainly due to: Positive cues from Asia Progress in U.S.-India-China trade talks Risk-on mood lifted tech stocks IT stocks rally for the 6th straight session Infosys, Tech Mahindra, Wipro, HCL Tech gained up to 3.2% Reliance and Bajaj Finserv also ended in the green Financials weigh on gains Nifty Bank & Financial Services indices slipped 0.3% amid profit booking after the RBI-driven rally BSE Ltd. shares fell 4%. NSE placed the stock under ASM framework — 100% margin requirement spooked investors Liquor stocks tumble Radico Khaitan dropped 3.8%, United Spirits sank 6.6% after Maharashtra raised excise duties Broader markets snap their winning streaks Smallcap & Midcap indices fell around 0.5% Global Markets US-China negotiators announced a trade framework, but Wall Street remained cautious. S&P 500 and Nasdaq futures dipped 0.2% in the last session The MSCI Asia ex-Japan index rose 0.6% What's next? Markets looked ahead to US inflation data due Thursday.
