S&P 500 (NYSEARCA: SPY) Live: China Trade Deal Breakthrough Sends Broader Market Soaring
Investing
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A China-U.S. trade deal has unlocked massive stock market gains today. The trade agreement is good for 90 days.
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The S&P 500 is narrowing its year-to-date decline with today’s gains.
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11:29 am
A bevy of economic data is also due out this week, which could influence the direction of stocks, especially after the Q1 GDP slowdown. On Tuesday, the latest CPI data will be released, a key inflation gauge for the economy. In March, the CPI index fell by a surprising 0.1%. Additionally, retail sales are due out on Thursday.
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NRG Energy (NYSE: NRG) is gaining 14% today after surpassing Q1 earnings estimates. In a bullish sign for natural gas, NRG also announced it would acquire the LS Power Portfolio in a whopping $12 billion transaction.
Newmont Mining (NYSE: NEM) is losing 5% on a falling gold price as investors flee the precious metal for equities in response to the U.S. and China trade talk success.
J.B. Hunt Transport (Nasdaq: JBHT) is rising 10.2% today. Transportation stocks are often viewed as a barometer for economic activity.
Dividend stock Altria Group (NYSE: MO) is off 3.2% on the day.
This article will be updated throughout the day, so check back often for more daily updates.
A China-U.S. trade agreement has unleashed the stock market bulls, leading to a 1,000-point advance in the Dow Jones Industrial Average. Technology stocks are among the top performers, sending the Nasdaq Composite soaring by 3.8% and the S&P 500 higher by 2.7%. Magnificent Seven stocks are joining in on today’s rally, while nearly all sectors of the economy are flashing green. The SPY ETF is adding 2.5% today as the broader market narrows its year-to-date decline to 1.3%.
After concluding delicate negotiations over the weekend, the White House and Beijing officials have reached a temporary deal to lower the lofty tariffs, giving the markets enough details for a risk-on rally. Treasury Secretary Scott Bessent described a strategic decoupling from basic items made by China, agreeing to suspend tariffs for 90 days with the nation except for a wider-based 10% levy threshold.
KindlyMD (Nasdaq: KDLY) is up a staggering 573% on this Merger Monday. The company announced a business combination with bitcoin investment firm Nakamoto, a company founded by President Trump’s crypto advisor David Bailey.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 984.04 (+2.4%)
Nasdaq Composite: Up 589.93 (+3.2%)
S&P 500: Up 140.86 (+2.5%)
Wall Street Analyst Moves
UBS has reiterated its “buy” rating on Nvidia (Nasdaq: NVDA) shares head of the AI leader’s quarterly earnings report later this month but lowered the price target to $175 from $180 per share.
Jefferies has upgraded shares of hotel stock Marriott (Nasdaq: MAR) to “buy” from “hold” amid strength in its business model that could lead to further gains in the share price.
BofA has reiterated Amazon (Nasdaq: AMZN) as a “buy” rating, suggesting that its robotics business is likely to be a growth driver at the company.
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