Tech Stocks Lead U.S. Market Amid Trade and Tariff Tensions
U.S. stocks rose on Wednesday, bolstered by technology shares despite an increasingly volatile trading environment influenced by trade policies. Economic data revealed potential slow growth and high inflation risks. Key focus remains on tariff negotiations and upcoming nonfarm payrolls data to gauge labor market impacts.
On Wednesday, U.S. stocks saw a modest increase, primarily driven by technology shares. This comes amid ongoing concerns regarding economic data that highlight the volatile impact of the Trump administration's trade policies.
Economic indicators such as the contraction in the U.S. services sector and elevated input prices fueled worries about potential slow growth and inflation. The ADP National Employment Report suggested a slow hiring trend, heightening anticipation ahead of Friday's nonfarm payrolls data.
Investors remain focused on tariff talks between Washington and global partners, with President Trump and Chinese leader Xi Jinping expected to have discussions soon. The S&P 500 and Nasdaq benefited from softened trade rhetoric, reaching record highs, while sector leaders like communication services and technology stocks spearheaded market gains.
(With inputs from agencies.)
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