Latest news with #NorthlightAssetManagement
Time of India
3 days ago
- Business
- Time of India
US stocks end higher on Nvidia, trade talks hopes
U.S. stock indexes closed higher on Tuesday, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on Washington's tariff plans. President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said on Monday, days after Trump accused China of violating a Geneva agreement to roll back tariffs and trade restrictions. Beijing said it would safeguard its interests and that the accusation was groundless. The Trump administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters. "The most important thing for investors is that the administration wasn't going to impose those much-larger-than-expected tariffs and just leave them on, which would have almost certainly led to a recession," said Chris Zaccarelli, Chief Investment Officer at Northlight Asset Management. "The fact that the U.S. is actively engaged with so many trading partners - China, the UK, Japan, the EU, etc. - has investors feeling more optimistic that we will avoid a recession." Live Events In May, a softening of Trump's harsh trade stance allowed a recovery in risky assets, with the benchmark S&P 500 and the tech-heavy Nasdaq posting their biggest monthly percentage gain since November 2023. The Dow Jones Industrial Average rose 214.16 points, or 0.51%, to 42,519.64, the S&P 500 gained 34.43 points, or 0.58%, to 5,970.37 and the Nasdaq Composite gained 156.34 points, or 0.81%, to 19,398.96. Information technology stocks rose 1.5%, boosted by 2.9% gains in Nvidia. Chipmaker Broadcom hit a fresh record high after the company said it has begun to ship its latest networking chip that aims to speed AI. It rose 3.2% "Commentary that Trump and Xi will speak started getting discussed yesterday and chips are likely a topic on the table," said Angelo Zino, a senior equity analyst at CFRA Research. "Given Nvidia is essentially currently locked out of China, any discussion is prone to favor Nvidia and chips rather than hurt the story." A U.S. Labor Department report showed job openings increased in April, but layoffs picked up, signaling a slowing labor market as tariffs impact the economic outlook. Factory orders dropped sharply in April, as the boost from front-loading of purchases ahead of tariffs faded. Data from the Commerce Department's Census Bureau showed a 3.7% fall, after an unrevised 3.4% jump in March. Monthly jobs data on Friday will offer more signs on how trade uncertainty is affecting the world's biggest economy. Shares of Wells Fargo were trading higher in post market trading after the U.S. Federal Reserve announced that the bank will no longer have to operate under a $1.95 trillion asset cap the regulator imposed on the bank in 2018 following its long-running sales practices scandal. Wells Fargo shares ended the day 1.2% higher, but were trading 2% higher after the bell. Shares of Kenvue dropped 6%, leading declines on the benchmark S&P 500 index. The company, which makes consumer health products, said at a Deutsche Bank conference that retailers in the U.S. and China are destocking products due to uncertainty over tariffs. Dollar General surged 15.8% as the discount retailer raised its annual sales forecast after surpassing quarterly sales expectations. Shares of image-sharing platform Pinterest rose 3.8% after JPMorgan raised the stock to overweight from neutral. Shares of Reddit fell 1.1% after the social media platform was down for over 29,000 users on Tuesday, according to outage tracking website Volume on U.S. exchanges was 15.69 billion shares, compared with the 17.8 billion average for the full session over the last 20 trading days. Advancing issues outnumbered decliners by a 2.32-to-1 ratio on the NYSE. There were 171 new highs and 53 new lows on the NYSE. On the Nasdaq, advancing issues outnumbered decliners by a 2.07-to-1 ratio. The S&P 500 posted 31 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 99 new highs and 60 new lows.
The Advertiser
3 days ago
- Business
- The Advertiser
Wall Street stocks end higher on Nvidia, trade hopes
US stock indexes have closed higher, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on Washington's tariff plans. US President Donald Trump and Chinese leader Xi Jinping are due to speak this week, the White House said on Monday, days after Trump accused China of violating a Geneva agreement to roll back tariffs and trade restrictions. Beijing said it would safeguard its interests and that the accusation was groundless. The Trump administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters. "The most important thing for investors is that the administration wasn't going to impose those much-larger-than-expected tariffs and just leave them on, which would have almost certainly led to a recession," said Chris Zaccarelli, Chief Investment Officer at Northlight Asset Management. "The fact that the US is actively engaged with so many trading partners – China, the UK, Japan, the EU, etc. – has investors feeling more optimistic that we will avoid a recession." In May, a softening of Trump's harsh trade stance allowed a recovery in risky assets, with the benchmark S&P 500 and the tech-heavy Nasdaq posting their biggest monthly percentage gain since November 2023. The Dow Jones Industrial Average on Tuesday rose 214.16 points, or 0.51 per cent, to 42,519.64, the S&P 500 gained 34.43 points, or 0.58 per cent, to 5,970.37 and the Nasdaq Composite gained 156.34 points, or 0.81 per cent, to 19,398.96. Information technology stocks rose 1.5 per cent, boosted by 2.9 per cent gains in Nvidia. Chipmaker Broadcom hit a fresh record high after the company said it has begun to ship its latest networking chip that aims to speed AI. It rose 3.2 per cent "Commentary that Trump and Xi will speak started getting discussed yesterday and chips are likely a topic on the table," said Angelo Zino, a senior equity analyst at CFRA Research. "Given Nvidia is essentially currently locked out of China, any discussion is prone to favour Nvidia and chips rather than hurt the story." A US Labor Department report showed job openings increased in April, but layoffs picked up, signaling a slowing labor market as tariffs impact the economic outlook. Factory orders dropped sharply in April, as the boost from front-loading of purchases ahead of tariffs faded. Data from the Commerce Department's Census Bureau showed a 3.7 per cent fall, after an unrevised 3.4 per cent jump in March. Monthly jobs data on Friday will offer more signs on how trade uncertainty is affecting the world's biggest economy. Shares of Wells Fargo were trading higher in post market trading after the US Federal Reserve announced that the bank will no longer have to operate under a $US1.95 trillion asset cap the regulator imposed on the bank in 2018 following its long-running sales practices scandal. Wells Fargo shares ended the day 1.2 per cent higher, but were trading two per cent higher after the bell. Shares of Kenvue dropped 6 per cent, leading declines on the benchmark S&P 500 index. The company, which makes consumer health products, said at a Deutsche Bank conference that retailers in the US and China are destocking products due to uncertainty over tariffs. Dollar General surged 15.8 per cent as the discount retailer raised its annual sales forecast after surpassing quarterly sales expectations. Shares of image-sharing platform Pinterest rose 3.8 per cent after JPMorgan raised the stock to overweight from neutral. Shares of Reddit fell 1.1 per cent after the social media platform was down for over 29,000 users on Tuesday, according to outage tracking website Volume on US exchanges was 15.69 billion shares, compared with the 17.8 billion average for the full session over the last 20 trading days. Advancing issues outnumbered decliners by a 2.32-to-1 ratio on the NYSE. There were 171 new highs and 53 new lows on the NYSE. On the Nasdaq, advancing issues outnumbered decliners by a 2.07-to-1 ratio. The S&P 500 posted 31 new 52-week highs and four new lows while the Nasdaq Composite recorded 99 new highs and 60 new lows. US stock indexes have closed higher, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on Washington's tariff plans. US President Donald Trump and Chinese leader Xi Jinping are due to speak this week, the White House said on Monday, days after Trump accused China of violating a Geneva agreement to roll back tariffs and trade restrictions. Beijing said it would safeguard its interests and that the accusation was groundless. The Trump administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters. "The most important thing for investors is that the administration wasn't going to impose those much-larger-than-expected tariffs and just leave them on, which would have almost certainly led to a recession," said Chris Zaccarelli, Chief Investment Officer at Northlight Asset Management. "The fact that the US is actively engaged with so many trading partners – China, the UK, Japan, the EU, etc. – has investors feeling more optimistic that we will avoid a recession." In May, a softening of Trump's harsh trade stance allowed a recovery in risky assets, with the benchmark S&P 500 and the tech-heavy Nasdaq posting their biggest monthly percentage gain since November 2023. The Dow Jones Industrial Average on Tuesday rose 214.16 points, or 0.51 per cent, to 42,519.64, the S&P 500 gained 34.43 points, or 0.58 per cent, to 5,970.37 and the Nasdaq Composite gained 156.34 points, or 0.81 per cent, to 19,398.96. Information technology stocks rose 1.5 per cent, boosted by 2.9 per cent gains in Nvidia. Chipmaker Broadcom hit a fresh record high after the company said it has begun to ship its latest networking chip that aims to speed AI. It rose 3.2 per cent "Commentary that Trump and Xi will speak started getting discussed yesterday and chips are likely a topic on the table," said Angelo Zino, a senior equity analyst at CFRA Research. "Given Nvidia is essentially currently locked out of China, any discussion is prone to favour Nvidia and chips rather than hurt the story." A US Labor Department report showed job openings increased in April, but layoffs picked up, signaling a slowing labor market as tariffs impact the economic outlook. Factory orders dropped sharply in April, as the boost from front-loading of purchases ahead of tariffs faded. Data from the Commerce Department's Census Bureau showed a 3.7 per cent fall, after an unrevised 3.4 per cent jump in March. Monthly jobs data on Friday will offer more signs on how trade uncertainty is affecting the world's biggest economy. Shares of Wells Fargo were trading higher in post market trading after the US Federal Reserve announced that the bank will no longer have to operate under a $US1.95 trillion asset cap the regulator imposed on the bank in 2018 following its long-running sales practices scandal. Wells Fargo shares ended the day 1.2 per cent higher, but were trading two per cent higher after the bell. Shares of Kenvue dropped 6 per cent, leading declines on the benchmark S&P 500 index. The company, which makes consumer health products, said at a Deutsche Bank conference that retailers in the US and China are destocking products due to uncertainty over tariffs. Dollar General surged 15.8 per cent as the discount retailer raised its annual sales forecast after surpassing quarterly sales expectations. Shares of image-sharing platform Pinterest rose 3.8 per cent after JPMorgan raised the stock to overweight from neutral. Shares of Reddit fell 1.1 per cent after the social media platform was down for over 29,000 users on Tuesday, according to outage tracking website Volume on US exchanges was 15.69 billion shares, compared with the 17.8 billion average for the full session over the last 20 trading days. Advancing issues outnumbered decliners by a 2.32-to-1 ratio on the NYSE. There were 171 new highs and 53 new lows on the NYSE. On the Nasdaq, advancing issues outnumbered decliners by a 2.07-to-1 ratio. The S&P 500 posted 31 new 52-week highs and four new lows while the Nasdaq Composite recorded 99 new highs and 60 new lows. US stock indexes have closed higher, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on Washington's tariff plans. US President Donald Trump and Chinese leader Xi Jinping are due to speak this week, the White House said on Monday, days after Trump accused China of violating a Geneva agreement to roll back tariffs and trade restrictions. Beijing said it would safeguard its interests and that the accusation was groundless. The Trump administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters. "The most important thing for investors is that the administration wasn't going to impose those much-larger-than-expected tariffs and just leave them on, which would have almost certainly led to a recession," said Chris Zaccarelli, Chief Investment Officer at Northlight Asset Management. "The fact that the US is actively engaged with so many trading partners – China, the UK, Japan, the EU, etc. – has investors feeling more optimistic that we will avoid a recession." In May, a softening of Trump's harsh trade stance allowed a recovery in risky assets, with the benchmark S&P 500 and the tech-heavy Nasdaq posting their biggest monthly percentage gain since November 2023. The Dow Jones Industrial Average on Tuesday rose 214.16 points, or 0.51 per cent, to 42,519.64, the S&P 500 gained 34.43 points, or 0.58 per cent, to 5,970.37 and the Nasdaq Composite gained 156.34 points, or 0.81 per cent, to 19,398.96. Information technology stocks rose 1.5 per cent, boosted by 2.9 per cent gains in Nvidia. Chipmaker Broadcom hit a fresh record high after the company said it has begun to ship its latest networking chip that aims to speed AI. It rose 3.2 per cent "Commentary that Trump and Xi will speak started getting discussed yesterday and chips are likely a topic on the table," said Angelo Zino, a senior equity analyst at CFRA Research. "Given Nvidia is essentially currently locked out of China, any discussion is prone to favour Nvidia and chips rather than hurt the story." A US Labor Department report showed job openings increased in April, but layoffs picked up, signaling a slowing labor market as tariffs impact the economic outlook. Factory orders dropped sharply in April, as the boost from front-loading of purchases ahead of tariffs faded. Data from the Commerce Department's Census Bureau showed a 3.7 per cent fall, after an unrevised 3.4 per cent jump in March. Monthly jobs data on Friday will offer more signs on how trade uncertainty is affecting the world's biggest economy. Shares of Wells Fargo were trading higher in post market trading after the US Federal Reserve announced that the bank will no longer have to operate under a $US1.95 trillion asset cap the regulator imposed on the bank in 2018 following its long-running sales practices scandal. Wells Fargo shares ended the day 1.2 per cent higher, but were trading two per cent higher after the bell. Shares of Kenvue dropped 6 per cent, leading declines on the benchmark S&P 500 index. The company, which makes consumer health products, said at a Deutsche Bank conference that retailers in the US and China are destocking products due to uncertainty over tariffs. Dollar General surged 15.8 per cent as the discount retailer raised its annual sales forecast after surpassing quarterly sales expectations. Shares of image-sharing platform Pinterest rose 3.8 per cent after JPMorgan raised the stock to overweight from neutral. Shares of Reddit fell 1.1 per cent after the social media platform was down for over 29,000 users on Tuesday, according to outage tracking website Volume on US exchanges was 15.69 billion shares, compared with the 17.8 billion average for the full session over the last 20 trading days. Advancing issues outnumbered decliners by a 2.32-to-1 ratio on the NYSE. There were 171 new highs and 53 new lows on the NYSE. On the Nasdaq, advancing issues outnumbered decliners by a 2.07-to-1 ratio. The S&P 500 posted 31 new 52-week highs and four new lows while the Nasdaq Composite recorded 99 new highs and 60 new lows. US stock indexes have closed higher, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on Washington's tariff plans. US President Donald Trump and Chinese leader Xi Jinping are due to speak this week, the White House said on Monday, days after Trump accused China of violating a Geneva agreement to roll back tariffs and trade restrictions. Beijing said it would safeguard its interests and that the accusation was groundless. The Trump administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters. "The most important thing for investors is that the administration wasn't going to impose those much-larger-than-expected tariffs and just leave them on, which would have almost certainly led to a recession," said Chris Zaccarelli, Chief Investment Officer at Northlight Asset Management. "The fact that the US is actively engaged with so many trading partners – China, the UK, Japan, the EU, etc. – has investors feeling more optimistic that we will avoid a recession." In May, a softening of Trump's harsh trade stance allowed a recovery in risky assets, with the benchmark S&P 500 and the tech-heavy Nasdaq posting their biggest monthly percentage gain since November 2023. The Dow Jones Industrial Average on Tuesday rose 214.16 points, or 0.51 per cent, to 42,519.64, the S&P 500 gained 34.43 points, or 0.58 per cent, to 5,970.37 and the Nasdaq Composite gained 156.34 points, or 0.81 per cent, to 19,398.96. Information technology stocks rose 1.5 per cent, boosted by 2.9 per cent gains in Nvidia. Chipmaker Broadcom hit a fresh record high after the company said it has begun to ship its latest networking chip that aims to speed AI. It rose 3.2 per cent "Commentary that Trump and Xi will speak started getting discussed yesterday and chips are likely a topic on the table," said Angelo Zino, a senior equity analyst at CFRA Research. "Given Nvidia is essentially currently locked out of China, any discussion is prone to favour Nvidia and chips rather than hurt the story." A US Labor Department report showed job openings increased in April, but layoffs picked up, signaling a slowing labor market as tariffs impact the economic outlook. Factory orders dropped sharply in April, as the boost from front-loading of purchases ahead of tariffs faded. Data from the Commerce Department's Census Bureau showed a 3.7 per cent fall, after an unrevised 3.4 per cent jump in March. Monthly jobs data on Friday will offer more signs on how trade uncertainty is affecting the world's biggest economy. Shares of Wells Fargo were trading higher in post market trading after the US Federal Reserve announced that the bank will no longer have to operate under a $US1.95 trillion asset cap the regulator imposed on the bank in 2018 following its long-running sales practices scandal. Wells Fargo shares ended the day 1.2 per cent higher, but were trading two per cent higher after the bell. Shares of Kenvue dropped 6 per cent, leading declines on the benchmark S&P 500 index. The company, which makes consumer health products, said at a Deutsche Bank conference that retailers in the US and China are destocking products due to uncertainty over tariffs. Dollar General surged 15.8 per cent as the discount retailer raised its annual sales forecast after surpassing quarterly sales expectations. Shares of image-sharing platform Pinterest rose 3.8 per cent after JPMorgan raised the stock to overweight from neutral. Shares of Reddit fell 1.1 per cent after the social media platform was down for over 29,000 users on Tuesday, according to outage tracking website Volume on US exchanges was 15.69 billion shares, compared with the 17.8 billion average for the full session over the last 20 trading days. Advancing issues outnumbered decliners by a 2.32-to-1 ratio on the NYSE. There were 171 new highs and 53 new lows on the NYSE. On the Nasdaq, advancing issues outnumbered decliners by a 2.07-to-1 ratio. The S&P 500 posted 31 new 52-week highs and four new lows while the Nasdaq Composite recorded 99 new highs and 60 new lows.
The Advertiser
3 days ago
- Business
- The Advertiser
Chip stocks lift Wall St as investors await trade talks
US stock indexes have edged higher, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on tariff plans. US President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. Trump's administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters. Trump said last week he planned to double tariffs on imported steel and aluminium to 50 per cent starting on Wednesday, fuelling fresh concerns among investors and hampering global stocks as they approached record highs. A softening of Trump's harsh trade stance allowed a recovery in risky assets in May, with the benchmark S&P 500 and the tech-heavy Nasdaq posting their biggest monthly percentage gain since November 2023. The S&P 500 remains less than 4.0 per cent away from its record peak touched in February. "The markets are still trading with a decent level of uncertainty because they're not sure how everything's going to turn out," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. "Having a best and final offer deadline and a framework to move forward should be positive for the markets." In early trading on Tuesday, the Dow Jones Industrial Average rose 10.40 points, or 0.02 per cent, to 42,315.12, the S&P 500 gained 10.39 points, or 0.17 per cent, to 5,946.18 and the Nasdaq Composite gained 87.28 points, or 0.46 per cent, to 19,330.74. Six of the 11 major S&P 500 sub-sectors fell. Communication services declined the most with a nearly 0.7 per cent fall. On the flip side, information technology stocks led gains with a 0.8 per cent rise, helped by a 2.7 per cent rise in Nvidia. Chipmaker Broadcom rose 2.1 per cent ahead of its results later this week. Constellation Energy rose 2.9 per cent after Meta Platforms said it had struck a power agreement with the utility's nuclear plant. It lifted other nuclear stocks such as Vistra Corp, up 4.4 per cent, GE Vernova, up 1.8 per cent, and NuScale Power, up 2.1 per cent. A US Labor Department report showed job openings increased in April but lay-offs picked up, signalling a slowing labour market as tariffs impact the economic outlook. Central bank officials including Fed Board governor Lisa Cook, Chicago Fed president Austan Goolsbee and Dallas president Lorie Logan are due to speak through the day. Monthly jobs data on Friday will offer more signs on how trade uncertainty is affecting the world's biggest economy. Pinterest rose 4.7 per cent after JPMorgan raised its rating to "overweight" from "neutral". Dollar General jumped 12.9 per cent as the discount retailer raised its annual sales forecast after surpassing quarterly sales expectations. Advancing issues outnumbered decliners by a 1.61-to-1 ratio on the NYSE and by a 1.67-to-1 ratio on the Nasdaq. The S&P 500 posted 24 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 66 new highs and 41 new lows. US stock indexes have edged higher, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on tariff plans. US President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. Trump's administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters. Trump said last week he planned to double tariffs on imported steel and aluminium to 50 per cent starting on Wednesday, fuelling fresh concerns among investors and hampering global stocks as they approached record highs. A softening of Trump's harsh trade stance allowed a recovery in risky assets in May, with the benchmark S&P 500 and the tech-heavy Nasdaq posting their biggest monthly percentage gain since November 2023. The S&P 500 remains less than 4.0 per cent away from its record peak touched in February. "The markets are still trading with a decent level of uncertainty because they're not sure how everything's going to turn out," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. "Having a best and final offer deadline and a framework to move forward should be positive for the markets." In early trading on Tuesday, the Dow Jones Industrial Average rose 10.40 points, or 0.02 per cent, to 42,315.12, the S&P 500 gained 10.39 points, or 0.17 per cent, to 5,946.18 and the Nasdaq Composite gained 87.28 points, or 0.46 per cent, to 19,330.74. Six of the 11 major S&P 500 sub-sectors fell. Communication services declined the most with a nearly 0.7 per cent fall. On the flip side, information technology stocks led gains with a 0.8 per cent rise, helped by a 2.7 per cent rise in Nvidia. Chipmaker Broadcom rose 2.1 per cent ahead of its results later this week. Constellation Energy rose 2.9 per cent after Meta Platforms said it had struck a power agreement with the utility's nuclear plant. It lifted other nuclear stocks such as Vistra Corp, up 4.4 per cent, GE Vernova, up 1.8 per cent, and NuScale Power, up 2.1 per cent. A US Labor Department report showed job openings increased in April but lay-offs picked up, signalling a slowing labour market as tariffs impact the economic outlook. Central bank officials including Fed Board governor Lisa Cook, Chicago Fed president Austan Goolsbee and Dallas president Lorie Logan are due to speak through the day. Monthly jobs data on Friday will offer more signs on how trade uncertainty is affecting the world's biggest economy. Pinterest rose 4.7 per cent after JPMorgan raised its rating to "overweight" from "neutral". Dollar General jumped 12.9 per cent as the discount retailer raised its annual sales forecast after surpassing quarterly sales expectations. Advancing issues outnumbered decliners by a 1.61-to-1 ratio on the NYSE and by a 1.67-to-1 ratio on the Nasdaq. The S&P 500 posted 24 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 66 new highs and 41 new lows. US stock indexes have edged higher, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on tariff plans. US President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. Trump's administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters. Trump said last week he planned to double tariffs on imported steel and aluminium to 50 per cent starting on Wednesday, fuelling fresh concerns among investors and hampering global stocks as they approached record highs. A softening of Trump's harsh trade stance allowed a recovery in risky assets in May, with the benchmark S&P 500 and the tech-heavy Nasdaq posting their biggest monthly percentage gain since November 2023. The S&P 500 remains less than 4.0 per cent away from its record peak touched in February. "The markets are still trading with a decent level of uncertainty because they're not sure how everything's going to turn out," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. "Having a best and final offer deadline and a framework to move forward should be positive for the markets." In early trading on Tuesday, the Dow Jones Industrial Average rose 10.40 points, or 0.02 per cent, to 42,315.12, the S&P 500 gained 10.39 points, or 0.17 per cent, to 5,946.18 and the Nasdaq Composite gained 87.28 points, or 0.46 per cent, to 19,330.74. Six of the 11 major S&P 500 sub-sectors fell. Communication services declined the most with a nearly 0.7 per cent fall. On the flip side, information technology stocks led gains with a 0.8 per cent rise, helped by a 2.7 per cent rise in Nvidia. Chipmaker Broadcom rose 2.1 per cent ahead of its results later this week. Constellation Energy rose 2.9 per cent after Meta Platforms said it had struck a power agreement with the utility's nuclear plant. It lifted other nuclear stocks such as Vistra Corp, up 4.4 per cent, GE Vernova, up 1.8 per cent, and NuScale Power, up 2.1 per cent. A US Labor Department report showed job openings increased in April but lay-offs picked up, signalling a slowing labour market as tariffs impact the economic outlook. Central bank officials including Fed Board governor Lisa Cook, Chicago Fed president Austan Goolsbee and Dallas president Lorie Logan are due to speak through the day. Monthly jobs data on Friday will offer more signs on how trade uncertainty is affecting the world's biggest economy. Pinterest rose 4.7 per cent after JPMorgan raised its rating to "overweight" from "neutral". Dollar General jumped 12.9 per cent as the discount retailer raised its annual sales forecast after surpassing quarterly sales expectations. Advancing issues outnumbered decliners by a 1.61-to-1 ratio on the NYSE and by a 1.67-to-1 ratio on the Nasdaq. The S&P 500 posted 24 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 66 new highs and 41 new lows. US stock indexes have edged higher, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on tariff plans. US President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. Trump's administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters. Trump said last week he planned to double tariffs on imported steel and aluminium to 50 per cent starting on Wednesday, fuelling fresh concerns among investors and hampering global stocks as they approached record highs. A softening of Trump's harsh trade stance allowed a recovery in risky assets in May, with the benchmark S&P 500 and the tech-heavy Nasdaq posting their biggest monthly percentage gain since November 2023. The S&P 500 remains less than 4.0 per cent away from its record peak touched in February. "The markets are still trading with a decent level of uncertainty because they're not sure how everything's going to turn out," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. "Having a best and final offer deadline and a framework to move forward should be positive for the markets." In early trading on Tuesday, the Dow Jones Industrial Average rose 10.40 points, or 0.02 per cent, to 42,315.12, the S&P 500 gained 10.39 points, or 0.17 per cent, to 5,946.18 and the Nasdaq Composite gained 87.28 points, or 0.46 per cent, to 19,330.74. Six of the 11 major S&P 500 sub-sectors fell. Communication services declined the most with a nearly 0.7 per cent fall. On the flip side, information technology stocks led gains with a 0.8 per cent rise, helped by a 2.7 per cent rise in Nvidia. Chipmaker Broadcom rose 2.1 per cent ahead of its results later this week. Constellation Energy rose 2.9 per cent after Meta Platforms said it had struck a power agreement with the utility's nuclear plant. It lifted other nuclear stocks such as Vistra Corp, up 4.4 per cent, GE Vernova, up 1.8 per cent, and NuScale Power, up 2.1 per cent. A US Labor Department report showed job openings increased in April but lay-offs picked up, signalling a slowing labour market as tariffs impact the economic outlook. Central bank officials including Fed Board governor Lisa Cook, Chicago Fed president Austan Goolsbee and Dallas president Lorie Logan are due to speak through the day. Monthly jobs data on Friday will offer more signs on how trade uncertainty is affecting the world's biggest economy. Pinterest rose 4.7 per cent after JPMorgan raised its rating to "overweight" from "neutral". Dollar General jumped 12.9 per cent as the discount retailer raised its annual sales forecast after surpassing quarterly sales expectations. Advancing issues outnumbered decliners by a 1.61-to-1 ratio on the NYSE and by a 1.67-to-1 ratio on the Nasdaq. The S&P 500 posted 24 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 66 new highs and 41 new lows.
West Australian
3 days ago
- Business
- West Australian
Chip stocks lift Wall St as investors await trade talks
US stock indexes have edged higher, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on tariff plans. US President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. Trump's administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters. Trump said last week he planned to double tariffs on imported steel and aluminium to 50 per cent starting on Wednesday, fuelling fresh concerns among investors and hampering global stocks as they approached record highs. A softening of Trump's harsh trade stance allowed a recovery in risky assets in May, with the benchmark S&P 500 and the tech-heavy Nasdaq posting their biggest monthly percentage gain since November 2023. The S&P 500 remains less than 4.0 per cent away from its record peak touched in February. "The markets are still trading with a decent level of uncertainty because they're not sure how everything's going to turn out," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. "Having a best and final offer deadline and a framework to move forward should be positive for the markets." In early trading on Tuesday, the Dow Jones Industrial Average rose 10.40 points, or 0.02 per cent, to 42,315.12, the S&P 500 gained 10.39 points, or 0.17 per cent, to 5,946.18 and the Nasdaq Composite gained 87.28 points, or 0.46 per cent, to 19,330.74. Six of the 11 major S&P 500 sub-sectors fell. Communication services declined the most with a nearly 0.7 per cent fall. On the flip side, information technology stocks led gains with a 0.8 per cent rise, helped by a 2.7 per cent rise in Nvidia. Chipmaker Broadcom rose 2.1 per cent ahead of its results later this week. Constellation Energy rose 2.9 per cent after Meta Platforms said it had struck a power agreement with the utility's nuclear plant. It lifted other nuclear stocks such as Vistra Corp, up 4.4 per cent, GE Vernova, up 1.8 per cent, and NuScale Power, up 2.1 per cent. A US Labor Department report showed job openings increased in April but lay-offs picked up, signalling a slowing labour market as tariffs impact the economic outlook. Central bank officials including Fed Board governor Lisa Cook, Chicago Fed president Austan Goolsbee and Dallas president Lorie Logan are due to speak through the day. Monthly jobs data on Friday will offer more signs on how trade uncertainty is affecting the world's biggest economy. Pinterest rose 4.7 per cent after JPMorgan raised its rating to "overweight" from "neutral". Dollar General jumped 12.9 per cent as the discount retailer raised its annual sales forecast after surpassing quarterly sales expectations. Advancing issues outnumbered decliners by a 1.61-to-1 ratio on the NYSE and by a 1.67-to-1 ratio on the Nasdaq. The S&P 500 posted 24 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 66 new highs and 41 new lows.
Perth Now
3 days ago
- Business
- Perth Now
Chip stocks lift Wall St as investors await trade talks
US stock indexes have edged higher, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on tariff plans. US President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. Trump's administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by Reuters. Trump said last week he planned to double tariffs on imported steel and aluminium to 50 per cent starting on Wednesday, fuelling fresh concerns among investors and hampering global stocks as they approached record highs. A softening of Trump's harsh trade stance allowed a recovery in risky assets in May, with the benchmark S&P 500 and the tech-heavy Nasdaq posting their biggest monthly percentage gain since November 2023. The S&P 500 remains less than 4.0 per cent away from its record peak touched in February. "The markets are still trading with a decent level of uncertainty because they're not sure how everything's going to turn out," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. "Having a best and final offer deadline and a framework to move forward should be positive for the markets." In early trading on Tuesday, the Dow Jones Industrial Average rose 10.40 points, or 0.02 per cent, to 42,315.12, the S&P 500 gained 10.39 points, or 0.17 per cent, to 5,946.18 and the Nasdaq Composite gained 87.28 points, or 0.46 per cent, to 19,330.74. Six of the 11 major S&P 500 sub-sectors fell. Communication services declined the most with a nearly 0.7 per cent fall. On the flip side, information technology stocks led gains with a 0.8 per cent rise, helped by a 2.7 per cent rise in Nvidia. Chipmaker Broadcom rose 2.1 per cent ahead of its results later this week. Constellation Energy rose 2.9 per cent after Meta Platforms said it had struck a power agreement with the utility's nuclear plant. It lifted other nuclear stocks such as Vistra Corp, up 4.4 per cent, GE Vernova, up 1.8 per cent, and NuScale Power, up 2.1 per cent. A US Labor Department report showed job openings increased in April but lay-offs picked up, signalling a slowing labour market as tariffs impact the economic outlook. Central bank officials including Fed Board governor Lisa Cook, Chicago Fed president Austan Goolsbee and Dallas president Lorie Logan are due to speak through the day. Monthly jobs data on Friday will offer more signs on how trade uncertainty is affecting the world's biggest economy. Pinterest rose 4.7 per cent after JPMorgan raised its rating to "overweight" from "neutral". Dollar General jumped 12.9 per cent as the discount retailer raised its annual sales forecast after surpassing quarterly sales expectations. Advancing issues outnumbered decliners by a 1.61-to-1 ratio on the NYSE and by a 1.67-to-1 ratio on the Nasdaq. The S&P 500 posted 24 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 66 new highs and 41 new lows.
