U.S. Markets Surge Amid Trade Optimism and Tech Gains

U.S. stock markets closed higher on Tuesday, propelled by tech sector gains and optimism about upcoming trade negotiations between the United States and China. This came after President Donald Trump and Chinese leader Xi Jinping were slated to hold discussions later this week, signaling possible respite from tense trade relations.

Chipmaker Nvidia was among the companies that boosted the indexes, as the online discussions focused on semiconductor markets. Meanwhile, a draft letter indicated that the U.S. administration is pushing for swift trade talks, urging major trade partners to present their best offers by Wednesday, in anticipation of an upcoming deadline.

Amidst this backdrop, stock metrics saw significant increases. The S&P 500 rose 0.58% to close at 5,970.53, while the Nasdaq surged 0.82% to finish at 19,400.15. The Dow Jones Industrial Average added 0.52%, ending the day at 42,524.67. Economic indicators showed a mixed picture, with an uptick in unemployment but increased job openings in April.

(With inputs from agencies.)