Stocks rise and S&P 500 hovers near record high as Washington and Beijing discuss trade
CNN
US stocks rose Monday and the S&P 500 approached an all-time high as trade talks between the US and China kicked off in London.
US stocks rose Monday and the S&P 500 approached an all-time high as trade talks between the US and China kicked off in London. The Dow was higher by 105 points, or 0.24%, as of the afternoon. The broader S&P 500 rose 0.3% and the tech-heavy Nasdaq Composite gained 0.46%. Stocks ticked higher in the early afternoon as investors awaited developments from the trade talks. The S&P 500 on Friday hit its highest level since February and was less than 2.4% away from hitting a new record high. The Dow, S&P 500 and Nasdaq are coming off of back-to-back weeks of gains. The US stock market has steadily rallied in the last two months as President Donald Trump has softened his initial plan for sweeping tariffs. After the S&P 500 tumbled to the precipice of a bear market in early April, the index has rallied more than 20%. “Markets have moved higher on tariff postponement and the perception that they will be more moderate than initially announced,” said Richard Saperstein, chief investment officer at Treasury Partners. “We expect markets to remain headline sensitive, as trade deals take time to negotiate and unsettling tariff news is likely to cause noticeable volatility.” Trump has authorized his trade negotiating team, led by Treasury Secretary Scott Bessent, to ease up on some key export restrictions of US goods to China that the United States had put in place for national security concerns, three sources familiar with the matter told CNN.
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