U.S.-China Trade Talks Lift S&P 500 Amid Tech Boost
The S&P 500 saw a slight uptick, driven by Amazon and Alphabet, amidst ongoing U.S.-China trade negotiations. The market remains optimistic about potential trade agreements, while Amazon plans $20 billion expansion in Pennsylvania. Meanwhile, Apple's modest conference announcements led to a share dip.
The S&P 500 ended Monday slightly higher, buoyed by Amazon and Alphabet amid U.S.-China negotiations designed to resolve a prolonged trade dispute affecting global markets. Key officials from both nations have resumed talks to uphold last month's preliminary agreement, offering hope for future deals.
Investor sentiment views any Beijing dialogue as positive, regardless of immediate outcomes, stated Jake Dollarhide, CEO of Longbow Asset Management. Amazon and Alphabet's shares each rose by over 1%, maintaining the S&P 500's position in the green for the day.
Amazon announced a $20 billion investment in Pennsylvania to enhance its data center infrastructure, furthering its commitment to AI expansion. Despite this, Apple's shares dropped 1.2% following its software developer conference, which failed to energize investors with its limited updates.
(With inputs from agencies.)
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