US stocks end higher amid ongoing trade talks with China
Nasdaq up 0.63%, S&P 500 earns 0.55%, Dow adds 0.25%
ISTANBUL
US stocks closed Tuesday with gains as investors hoped for positive updates from the US-China trade talks in London
The S&P 500 was up 0.55%, or 32.93 points, to close at 6,038.81. The Nasdaq composite rose 0.63% to finish at 19,714.99.
The Dow Jones Industrial Average earned 0.25% to close at 42,866.87 points.
Electric carmaker Tesla gained more than 5.6% on Tuesday and continued to recover from last week's plummet in value triggered by CEO Elon Musk's heated online exchange with US President Donald Trump, apparently ending their political partnership.
The meeting between delegations from the US and China started at London’s Lancaster House in the morning and continued after lunch on its second day.
The talks were expected to revolve around China's restrictions on exports of rare earths to US and Washington's restrictions on exports of high-tech to China, as well as a dispute over mutual tariffs.
US Treasury Secretary Scott Bessent, representing Washington in the talks, said the meeting went "well," while Commerce Secretary Howard Lutnick called it "productive."
It came after US President Donald Trump and Chinese President Xi Jinping spoke on the phone last week, which Trump said "resulted in a very positive conclusion for both countries."
In addition to rolling back measures put in place since early April when Trump announced higher tariffs on US trade partners, the two sides are hoping to expand on a May 12 pact reached in Geneva for a 90-day suspension of most charges.
In recent weeks, the parties have accused each another of breaking their agreement.
