On the 27th (local time), the New York stock market closed higher across the board, boosted by expectations of a suspension of reciprocal tariffs and a resolution in U.S.-China trade tensions. Notably, the Standard & Poor's (S&P) 500 index and the Nasdaq index set new all-time highs during the trading session.
On the same day at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed up 432.43 points (1.00%) at 43,819.27. The S&P 500 index rose by 32.05 points (0.52%) to close at 6,173.07, while the Nasdaq composite index finished up 105.54 points (0.52%) at 20,273.46.
The S&P 500 index and Nasdaq index steadily expanded their gains after the market opened, with the S&P 500 reaching as high as 6,187.68 and the Nasdaq index climbing to 20,311.51, setting new records.
The strong performance of the New York stock market is interpreted as being influenced by expectations that the tariff suspension period could be extended in conjunction with the conclusion of trade negotiations between the United States and China.
On the 26th, U.S. Secretary of Commerce Howard Lutnick mentioned the trade agreement with China, leading the stock market to rise from the beginning of the day due to expectations of easing trade tensions.
Additionally, Treasury Secretary Scott Bessent noted that negotiations with major countries could be wrapped up by September 1. He mentioned that they are close to an agreement with more than 10 of the 18 key trading nations.
Among the giant corporations with market capitalizations exceeding $1 trillion, Microsoft, Broadcom, and Tesla showed slight declines, while the rest of the companies were strong. Nvidia rose by 1.76%, surpassing a market cap of $3.8 trillion. Amazon and Alphabet increased by more than 2%.