U.S.-China trade negotiation expectations led to the New York Stock Exchange rising for the second consecutive day. The S&P 500 index surpassed 6000, recording its highest level since February this year.
On the 9th (local time), the S&P 500 index closed at 6005.88, up 5.28 points (0.09%) from the previous day.
The tech-heavy Nasdaq composite index recorded an increase of 59.36 points (0.31%), reaching 19,591.24.
In contrast, the Dow Jones Industrial Average fell by 1.11 points (0.003%), closing at 42,761.76 in transaction.
The S&P 500 broke above the 6000 level for the first time since Feb. 21. Major indexes all recorded an upward trend for two consecutive weeks.
Goldman Sachs noted, "Tariff uncertainty has peaked, and moderate valuation expansion is now possible," and raised the year-end target for the S&P 500 from 5900 to 6050.
Amidst mixed trends among the three major indexes, experts analyzed that optimism regarding U.S.-China trade negotiations supported investor sentiment.
At the U.S.-China trade negotiations held in London, U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Rootnick, and U.S. Trade Representative Jamieson Greer attended. Kevin Hasit, Chairperson of the National Economic Council, stated in a CNBC interview that the goal is to confirm whether China will resume exports of critical minerals.
The negotiations are expected to continue on Tuesday morning. Last week, President Trump and President Xi Jinping had a lengthy phone call, and this month, the two countries agreed to temporarily reduce tariffs.
On this day, semiconductor stocks, which are likely to see increased sales if the trade negotiation is settled, showed strength. Qualcomm announced it will acquire AlphaWaveSemi for $2.4 billion, causing its stock to surge by over 4%. AMD rose by 4.8%, and Texas Instruments increased by 3.5%. Nvidia also saw an increase.
Larry Tentarelli, chief technical strategist at Blue Chip Daily Trend Report, said, "Investors are betting on strong performance in large Chinese stocks and U.S. semiconductor stocks, which are beneficiaries of the U.S.-China trade negotiations."
In contrast, Apple held its developer conference (WWDC) on this day and unveiled its first redesign of the iPhone operating system since 2013, but saw a decline of 1.2%.
Experts are focusing on soon-to-be-released inflation indicators, including the Consumer Price Index on the 11th and the Producer Price Index on the 12th. Investors are seeking clues about the impact of current tariff rates on the economy, Bloomberg reported.