U.S. stock markets closed mixed on Wednesday, extending a rally driven by easing trade tensions between the U.S. and China.
Market Performance Summary
The S&P 500 gained 0.1%, the Nasdaq rose 0.57%, while the Dow Jones Industrial Average declined by 0.21%.
Positive News from China
Markets responded favorably to an agreement between the U.S. and China to temporarily reduce tariffs. The U.S. lowered tariffs on Chinese goods to 30%, while China reduced duties on U.S. imports to 10%. The S&P 500, previously in negative territory, is up over 21% from its April low.
Individual Stock Movements
In individual stocks, eToro jumped nearly 29% in its Nasdaq debut. Super Micro Computer surged 17%, fueled by a $20 billion data center deal in Saudi Arabia. Boeing shares rose 2% after announcing a $96 billion aircraft sale to Qatar Airways. Meanwhile, Tesla's recent rally showed signs of overheating, indicating potential near-term price pressure.
Overall market trends suggest positive investor sentiment due to improved trade relations between the U.S. and China, although analysts caution about potential pauses without further policy initiatives.
