Market Optimism Climbs as U.S.-China Talks Emerge Amid Trade Tensions
U.S. stock indexes rose as President Trump and Chinese leader Xi Jinping agreed to tariff negotiations, boosting investor confidence. The markets await a key job report, while concerns over an economic slowdown and trade disputes persist. Initial jobless claims rose, and major indexes showed gains despite ongoing market uncertainties.
Wall Street indexes climbed on Thursday with the Dow rising by 0.33%, the S&P 500 by 0.39%, and the Nasdaq by 0.60%, following an agreement between U.S. President Donald Trump and Chinese leader Xi Jinping to negotiate tariffs. This move provided a positive outlook to investors amidst ongoing trade tensions between the two economic giants.
The call for talks comes as accusations between Washington and Beijing have escalated over critical minerals, threatening the fragile trade truce. Investors are also anticipating a crucial jobs report to assess the labor market's condition, as concerns mount over economic slowdown due to trade uncertainties.
Additionally, rising initial jobless claims for the second consecutive week have added to the cautious sentiment. Despite this, U.S. equities experienced significant gains in May, buoyed by a shift in Trump's trade policies and strong earnings, with technology shares leading the latest rally.
(With inputs from agencies.)
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