US Stocks Rise as Investors Eye Positive Developments in US-China Trade Talks

Tripoli: US stocks closed Tuesday with gains as investors hoped for positive updates from the US-China trade talks in London: US stocks closed Tuesday with gains as investors hoped for positive updates from the US-China trade talks in London. According to Anadolu Agency, the S and P 500 increased by 0.55%, or 32.93 points, closing at 6,038.81. The Nasdaq Composite rose by 0.63% to finish at 19,714.99. Meanwhile, the Dow Jones Industrial Average saw a rise of 0.25%, closing at 42,866.87 points. Electric carmaker Tesla experienced a significant gain of more than 5.6% on Tuesday, continuing its recovery from last week's decline in value. The drop had been triggered by CEO Elon Musk's contentious online exchange with US President Donald Trump, which seemingly marked the end of their political collaboration. The meeting between US and Chinese delegations commenced at London's Lancaster House in the morning and proceeded after lunch on its second day. Discussions were anticipated to focus on China's restrictions on rare earth exports to the US and Washington's limitations on high-tech exports to China, along with a dispute over mutual tariffs. US Treasury Secretary Scott Bessent, representing Washington in the negotiations, remarked that the meeting went "well," while Commerce Secretary Howard Lutnick described it as "productive." This followed a phone conversation between US President Donald Trump and Chinese President Xi Jinping last week, which Trump stated had "resulted in a very positive conclusion for both countries." In addition to rolling back measures implemented since early April when Trump announced higher tariffs on US trade partners, both parties are aiming to expand on a May 12 agreement reached in Geneva for a 90-day suspension of most charges.