Stocks were little changed Tuesday as investors waited for more insight on trade discussions between the U.S. and China. Tesla and TSMC jumped 2%.
The Dow Jones Industrial Average lost 11 points. The S&P 500 rose around 0.2% along with the Nasdaq Composite.
Talks between U.S. and Chinese officials in London are continuing for the second day. U.S. Commerce Secretary Howard Lutnick said on Tuesday that the discussions are “going well, and we’re spending lots of time together” and that he expects the talks to continue all day.
Traders are monitoring the discussions for signs of a deal that doesn’t involve the countries enforcing lofty tariffs on one another. Both nations agreed last month to temporarily slash their duties, which was seen as a major breakthrough in trade negotiations after U.S. President Donald Trump unveiled his plan for broad and steep levies on imports.
“I think most people are assuming that some conversation is better than nothing, that we’re making progress,” said Adam Parker, founder of Trivariate Research, on CNBC’s “Closing Bell.” Because of that, “people aren’t … wanting to sell stocks.”
Those moves follow a muted day on Wall Street as investors kept an eye on the trade talks. The S&P 500 and Nasdaq posted slight gains on Monday, while the Dow ended marginally below the flatline.
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