From Nasdaq: 2025-05-13 09:18:00

U.S. stocks surged after the U.S. and China agreed to reduce tariffs for 90 days, calming trade war fears. The Dow rose 2.8% to close at 42,410.10 points, the S&P 500 jumped 3.3% to 5,844.19 points, and the Nasdaq climbed 4.4% to 18,708.34 points. Tech, consumer discretionary, and industrial stocks led the gains.

The tariff reductions between the U.S. and China boosted investor confidence, leading to a market rally. Stocks with ties to China like Tesla, Apple, and NVIDIA saw significant gains. The tech sector was the biggest winner, with all major indexes posting their best performance since April 9. Investors are hopeful for more trade deals and potential rate cuts by the Federal Reserve.

While no major economic data was released, the positive developments in the trade talks lifted Wall Street. The 90-day tariff reduction period is seen as a positive step, with hopes for further trade agreements with other countries and potential rate cuts in the future. The consumer price index (CPI) data expected on Tuesday will provide more insight into the economic outlook.



Read more at Nasdaq: Stock Market News for May 13, 2025