(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.