Wall Street indices hit new records amid US-China trade talks and expected Fed rate cut
Kyiv • UNN
US stock indices rose to historical highs: Dow Jones by 0.42%, S&P 500 by 0.89%, Nasdaq by 1.54%. The growth was supported by expectations of a meeting between Trump and Xi Jinping, as well as an expected 25 basis point Fed rate cut.
Major US stock indices rose to historical highs on Monday. The Dow Jones rose by 0.42% to 47,406 points, the S&P 500 by 0.89% to 6,852, and the Nasdaq by 1.54% to 23,561 points. This was reported by Reuters, writes UNN.
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The growth was supported by expectations of a meeting between Donald Trump and Xi Jinping, which could suspend trade tariffs, as well as the expected 25 basis point rate cut by the Fed. The VIX fear index fell to a one-month low.
Shares of the "Magnificent Seven" – Microsoft, Apple, Alphabet, Amazon, and Meta – added between 1% and 3%. Qualcomm jumped 15% after presenting AI chips, Nvidia – 2.7%. The technology sector grew by 1.4%, and the semiconductor index reached a new record.
Shares of Chinese companies Alibaba, JD.com, PDD rose by more than 2%, Baidu – by 4.8%.
Among others: Keurig Dr Pepper rose 6.8% after a $7 billion deal, Lululemon – 3.1% after a partnership with the NFL.
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