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J.M. Smucker falls after downbeat forecast

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World Bank cuts global growth forecast for 2025

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S&P 500 +0.36%, Nasdaq +0.29%, Dow +0.26%

(Updates with details of afternoon trading)

By Noel Randewich and Sukriti Gupta

June 10 (Reuters) - The S&P 500 climbed on Tuesday,

lifted by Tesla's gains as investors awaited results from

U.S.-China trade talks aimed at defusing a tariff dispute that

has roiled global markets this year.

Wall Street is betting on improved trade terms after relief

from a preliminary deal struck last month was overshadowed by

Washington's allegations that Beijing was blocking exports of

rare earth minerals critical to the aerospace, semiconductor and

defense sectors.

The U.S. stock market has rallied in recent weeks,

recovering from an April slump sparked by U.S. President Donald

Trump's "Liberation Day" sweeping global tariffs.

With investors betting the United States will reach trade

agreements that reduce Trump's steep trade barriers, the S&P 500

is now trading just below its February record highs.

"The expectation is that they'll figure this out, and that

the Liberation Day tariff levels are never going to be seen. You

can't get to market valuations where we've got them and have

those tariff levels get anywhere close to reality," said Scott

Ladner, chief investment officer at Horizon Investments.

Shares of Wall Street's most valuable companies were mixed.

Tesla added almost 4%, while Microsoft ( MSFT ) slipped

0.7%.

Alphabet rallied 2% after Reuters reported that OpenAI plans

to add Alphabet's Google cloud service to meet its growing needs

for computing capacity.

The S&P 500 was up 0.36% at 6,027.71 points.

The Nasdaq gained 0.29% to 19,648.71 points, while the Dow

Jones Industrial Average was up 0.26% at 42,871.41 points.

Of the 11 S&P 500 sector indexes, 10 rose, led by energy

, up 2.21%, followed by a 1.3% gain in healthcare

.

Investors are awaiting U.S. consumer prices data on

Wednesday for clues to the Federal Reserve's rate trajectory.

The World Bank slashed its global growth forecast for 2025

by 0.4 percentage point to 2.3%, saying higher tariffs and

heightened uncertainty posed a "significant headwind" for nearly

all economies.

Insmed ( INSM ) shares jumped 27% after the drugmaker said

its experimental drug significantly reduced blood pressure in

the lungs and improved exercise capacity in patients in a

mid-stage study.

J.M. Smucker's shares tumbled 15% and were set for

their worst day on record after the Jif peanut butter maker

forecast annual profit below estimates.

Snap was last up 1.7% after the social media

platform said it would launch its first-ever smart glasses for

all consumers next year, ratcheting up competition with Meta

in the wearable technology market.

Advancing issues outnumbered falling ones within the S&P 500

by a 2.1-to-one ratio.

The S&P 500 posted 10 new highs and two new lows; the Nasdaq

recorded 66 new highs and 37 new lows.