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The reference stock market index of the S&P 500 has taken another step in its remarkable walking higher at the edge of a lower market in recent weeks: it has now erased all its losses for this year.
US shares were mixed on Tuesday as investors digested data on cooling and relaxing trade tensions between the United States and China. The DOW closed below 270 points, or 0.64%. Meanwhile, the wider S&P 500 increased by 0.72% and the Nasdaq composite heavy in technology won 1.61%.
For the year, the DOW is still down 0.95% and the NASDAQ composite is down 1.56% this year.
Wall Street obtained a major boost on Monday after Washington and Beijing negotiated an agreement to considerably reduce prices for 90 days. The actions increased on Tuesday as the new data from the Bureau of Labor Statistics showed a surprising recharging time of annual inflation before the impact of Trump prices. Consumer prices in April have recorded their lowest annual increase since February 2021.
Actions have been in tears since the month after Trump started changing his air on prices, announcing transport cards for certain prices on China and the prospect of concluding trade agreements.
“The fears of slowing growth and a recession caused by punitive prices have lowered the markets during the first week of April, but they bounced back on the price break and a Chinese commercial breakthrough, and now a better than expected inflation report, the Northlight Asset Management investments in a note on Tuesday.
NVIDIA (NVDA) jumped 5.63% on Tuesday after the flea giant announced that it would associate Saudi Arabia on artificial intelligence initiatives.
Dow was the only index that fell on Tuesday. He was largely increased by Unitedhealth Group (UNH), which flowed 17.8% after the company suspended its orientations on profits and CEO Andrew Witty said it would resign for personal reasons. The DOW is weighted by the share price, and United has a significant influence on the performance of the index.
