The Nasdaq has risen by 0.26%, positively responding to news of trade negotiations between the US and China, particularly regarding the export of Nvidia chips.
Market Overview
The Nasdaq has shown a positive movement amid optimism regarding trade relations with China. Economic commentators highlight the current situation as a 'breakthrough' in negotiations.
Nvidia's Export Approval
The US government decided to grant Nvidia licenses to resume exports of their advanced H20 AI chips to China, reversing a ban imposed during the Trump administration. Nvidia's CEO, Jensen Huang, confirmed he received the 'thumbs up' from Washington. He remarked, 'The American tech stack should be the global standard, just as the American dollar is.'
US-China Trade Relations
While indicators show improvements in trade relations, significant aspects remain unresolved. Trade volumes between the US and China have decreased, and the trade deficit with China continues to grow.
Current events indicate optimistic sentiments in the market and a potential improvement in US-China trade, though substantial challenges remain.
