Dow Jones, S&P 500, Nasdaq rise amid U.S.-China trade talks
By: bitcoin ethereum news|2025/05/08 05:15:01
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U.S. stocks rose on Wednesday as markets reacted to news of trade talks between China and the United States. S&P 500 gained 0.32% as it opened higher after consecutive sessions of downward pressure for stocks. While the Nasdaq was up by 0.29%, the Dow Jones Industrial Average edged higher at the open, climbing more than 200 points as investor attention turned to the Federal Reserve’s interest rate decision expected later in the day. Gains sees the major U.S. indices appear set to end a two-day losing streak that materialized as markets remained cautious amid tariffs uncertainty. However, news that top U.S. officials were set to meet their Chinese counterparts buoyed sentiment. Futures tied to the three major indexes rose as investors welcomed the prospect of formal trade talks between the two countries. With stocks having rallied before on bullish takes regarding the U.S.-China trade talks, analysts say clarity would be welcome. But given the likelihood that nothing much happens in coming weeks has dampened the upward look. Investors are thus watching out for developments in this tariffs space. Notably, the most recent labor data from the Bureau of Labor Statistics indicated an addition of 177,000 jobs in April. This was above the expectations of 138,000, with this coming in as the unemployment rate held at 4.2%. While this showed a solid April, tariff concerns linger. Robert Kaplan, Goldman Sachs vice chairman and former Dallas Fed president, told CNBC’s ‘Squawk Box’ on Wednesday that the tariff issues will need to be solved first before the U.S. economy sees a further slowdown. The immediate market attention is also on the Federal Reserve, which is completing its two-day meeting on May 7. Key to investors will be the Fed’s policy decision and Chair Jerome Powell’s speech. While markets have priced in a 96% chance that the central bank will keep rates unchanged, focus will be on Powell. In particular, it will be on what he says about the U.S. economy as well as what the Fed sees as its trajectory for interest rates. Source: https://crypto.news/dow-jones-sp-500-nasdaq-rise-amid-u-s-china-trade-talks/
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