The S&P 500 closed marginally higher on Monday as President Donald Trump’s officials met with their Chinese counterparts in an effort to resolve trade issues between the two economic giants.
The broad market index added 0.09% and notched a second winning session, closing at 6,005.88. The Nasdaq Composite climbed 0.31% to end at 19,591.24.The Dow Jones Industrial Average ticked down 1.11 points and closed at 42,761.76.
Officials from the U.S. and China held trade talks on Monday in London, with U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer representing the U.S. National Economic Council Director Kevin Hassett told CNBC on Monday that the U.S. was seeking confirmation that China would restore critical mineral exports.
“The purpose of the meeting today is to make sure that they’re serious … to literally get handshakes … and get this thing behind us,” Hassett said on CNBC’s “Squawk Box.” “Our expectation is that … immediately after the handshake, any export controls from the U.S. will be eased, and the rare earths will be released in volume, and then we can go back to negotiating smaller matters.”
The talks are set to continue on Tuesday morning, a source familiar with the situation told CNBC. The meeting in London comes after Trump and Chinese President Xi Jinping held a lengthy phone call last week. Last month, the two countries agreed to temporarily cut tariffs while trade negotiations proceeded.
Shares of several semiconductor companies rose on Monday. Qualcomm jumped more than 4% after the chipmaker announced it will acquire semiconductor firm Alphawave for $2.4 billion. Shares of Advanced Micro Devices added 4.8% and Texas Instruments rose 3.5%, while Nvidia shares ticked higher. Alibaba gained 1.8%.
“Investors are taking bullish trades today on China large caps and U.S. semiconductor stocks, which are both beneficiaries of U.S./China trade talks,” said Larry Tentarelli, chief technical strategist for Blue Chip Daily Trend Report.
Separately, Apple shares lost 1.2% as the company held its 2025 Worldwide Developers Conference, during which it announced its first new iPhone operating system redesign since 2013.
Inflation data is expected to be a key topic later in the week. The latest consumer price index is due out on Wednesday, followed by the producer price index on Thursday. Traders will be looking for clues as to how the current tariff rates are flowing through the economy.
Monday’s moves come after all three of the major indexes notched their second-straight winning week. The S&P 500 on Friday closed above the 6,000 level for the first time since Feb. 21.
Source: https://www.cnbc.com/2025/06/08/stock-market-today-live-updates.html