US stocks end mostly up as markets eye trade talks

NEW YORK – Wall Street stocks edged higher on June 9 as US and Chinese representatives held high-stakes trade talks and markets looked ahead to key economic data.

Trade representatives for the world’s two biggest economies plan a second day of talks on June 10 following an opening round on June 9. Although there were no breakthroughs, the market has welcomed the negotiations.

“There’s hopes that they’re inching closer to some sort of a deal,” said Mr Peter Cardillo of Spartan Capital Securities.

The Dow Jones Industrial Average finished flat at 42,761.76.

The broad-based S&P 500 climbed 0.1 per cent to 6,005.88, while the tech-rich Nasdaq Composite Index added 0.3 per cent at 19,591.24.

Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer are leading the US delegation, while China’s team included Commerce Minister Wang Wentao and China International Trade Representative Li Chenggang.

Among individual companies, Apple fell 1.2 per cent after company executives emphasised its artificial intelligence efforts at the tech giant’s annual developers conference, including allowing app makers to directly access a device’s AI capabilities.

Apple has lagged some rivals in introducing AI-advancing updates to its Siri voice assistant and other programmes.

Warner Brothers Discovery finished down 3.0 per cent after unveiling a plan to split itself into two companies to better position for the streaming era.

The entertainment giant will break itself into two publicly traded companies: one covering “Streaming & Studios” and the other “Global Networks.” The shift, designed to enable each venture to “maximise its potential,” is expected to be completed by mid-2026, the company said.

This week’s agenda includes releases on consumer and producer prices, key benchmarks on inflation. AFP

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