Stocks Little Changed on U.S.-China Trade Talks
Stocks were little changed Tuesday as investors waited for more insight on trade discussions between the U.S. and China.
The Dow Jones Industrials crept up 11.5 points to 42,773.26.
The S&P 500 index cleared 15.46 points to 6,021.34.
The NASDAQ Composite headed higher 63.81 points, or 1.2%, to 19,655.05.
Talks between U.S. and Chinese officials in London are continuing for the second day. U.S. Commerce Secretary Howard Lutnick said on Tuesday that the discussions are “going well, and we’re spending lots of time together” and that he expects the talks to continue all day.
Traders are monitoring the discussions for signs of a deal that doesn’t involve the countries enforcing lofty tariffs on one another.
Both nations agreed last month to temporarily slash their duties, which was seen as a major breakthrough in trade negotiations after U.S. President Donald Trump unveiled his plan for broad and steep levies on imports.
OpenAI will add Alphabet’s Google cloud service in a deal that was finalized in May, sources told Reuters. Under the deal, Google’s cloud unit will supply additional computing capacity for OpenAI’s existing infrastructure for training and running its AI models.
Google shares gained $3.20, or 1.8%, to $180.83.
Prices for the 10-year Treasury gained slightly, lowering yields to 4.47% from Monday’s 4.49%. Treasury prices and yields move in opposite directions.
Oil prices advanced 53 cents to $65.82 U.S. a barrel.
Gold prices lost $1.30 to $3,353.60 U.S. an ounce.
