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US STOCKS-Chip stocks lift Wall Street as investors await trade negotiations
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US STOCKS-Chip stocks lift Wall Street as investors await trade negotiations
Jun 3, 2025 8:25 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Indexes up: Dow 0.02%, S&P 500 0.17%, Nasdaq 0.46%

*

Constellation Energy ( CEG ) gains on power agreement with Meta

*

Dollar General ( DG ) lifts annual comparable sales growth target

*

US job openings rise to 7.391 million in April

(Updates after markets open)

By Kanchana Chakravarty and Sukriti Gupta

June 3 (Reuters) - U.S. stock indexes edged higher on

Tuesday, helped by gains in Nvidia ( NVDA ) and other chipmakers, as

investors awaited possible negotiations between the United

States and its trading partners for more clarity on Washington's

tariff plans.

President Donald Trump and Chinese leader Xi Jinping are set

to speak this week, the White House said on Monday, days after

Trump accused China of violating an agreement to roll back

tariffs and trade restrictions.

The Trump administration wants countries to provide their

best offer on trade negotiations by Wednesday as officials seek

to accelerate talks with multiple partners ahead of a

self-imposed deadline in just five weeks, according to a draft

letter to negotiating partners seen by Reuters.

Trump said last week he planned to double tariffs on

imported steel and aluminum to 50% starting on Wednesday,

fueling fresh concerns among investors and hampering global

stocks as they approached record highs.

A softening of Trump's harsh trade stance allowed a recovery

in risky assets in May, with the benchmark S&P 500 and

the tech-heavy Nasdaq posting their biggest monthly

percentage gain since November 2023.

The S&P 500 remains less than 4% away from its record peak

touched in February.

"The markets are still trading with a decent level of

uncertainty because they're not sure how everything's going to

turn out," said Chris Zaccarelli, chief investment officer at

Northlight Asset Management.

"Having a best and final offer deadline and a framework to

move forward should be positive for the markets."

At 10:40 a.m. the Dow Jones Industrial Average rose

10.40 points, or 0.02%, to 42,315.12, the S&P 500 gained

10.39 points, or 0.17%, to 5,946.18 and the Nasdaq Composite

gained 87.28 points, or 0.46%, to 19,330.74.

Six of the 11 major S&P 500 sub-sectors fell.

Communication services declined the most with a nearly

0.7% fall.

On the flip side, information technology stocks

led gains with a 0.8% rise, helped by a 2.7% rise in Nvidia ( NVDA )

. Chipmaker Broadcom rose 2.1% ahead of its

results later this week.

Constellation Energy ( CEG ) rose 2.9% after Meta

Platforms ( META ) said it had struck a power agreement with the

utility's nuclear plant.

It lifted other nuclear stocks such as Vistra Corp ( VST )

, up 4.4%, GE Vernova ( GEV ), up 1.8%, and NuScale Power ( SMR )

up 2.1%.

A U.S. Labor Department report showed job openings increased

in April, but layoffs picked up, signaling a slowing labor

market as tariffs impact the economic outlook.

Central bank officials including Fed Board Governor Lisa

Cook, Chicago Fed President Austan Goolsbee and Dallas President

Lorie Logan are due to speak through the day.

Monthly jobs data on Friday will offer more signs on how

trade uncertainty is affecting the world's biggest economy.

Pinterest ( PINS ) rose 4.7% after J.P.Morgan raised its

rating to "overweight" from "neutral".

Dollar General ( DG ) jumped 12.9% as the discount retailer

raised its annual sales forecast after surpassing quarterly

sales expectations.

Advancing issues outnumbered decliners by a 1.61-to-1 ratio

on the NYSE and by a 1.67-to-1 ratio on the Nasdaq.

The S&P 500 posted 24 new 52-week highs and 4 new lows while

the Nasdaq Composite recorded 66 new highs and 41 new lows.

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