U.S. stocks rose on Tuesday, buoyed by tech strength, solid jobs data and hopes for progress on trade. The S&P 500 rose 0.6%, the Dow gained 214 points and the Nasdaq gained 0.8%, led by a 2.8% rally in Nvidia that briefly made it the most valuable public company.
Other chipmakers such as Broadcom (+3.3%) and Micron (+4.1%) also rose sharply, adding to the chip-driven momentum. A stronger-than-expected JOLTS report showed job openings rose by 191,000 to 7.391 million in April, signaling resilience in the labor market despite trade headwinds.
However, the OECD cut its 2025 U.S. growth forecast to 1.6% from 2.2%, citing policy uncertainty and ongoing tariff tensions. Beijing and Washington have accused each other of violating a trade truce, while Trump's plan to double tariffs on steel and aluminum has drawn criticism from the European Union. Investors are eyeing a possible Trump-Xi phone call this week, which could be crucial for trade talks and market sentiment. (alg)
Source: Trading Economics
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