FX.co ★ S&P and Nasdaq Rise

The S&P 500 rose by 0.3%, and the Nasdaq advanced by 0.8%, while the Dow Jones decreased by around 190 points. This shift occurred as initial optimism from the 90-day US-China tariff truce began to wane and investors processed a new Consumer Price Index (CPI) report. The inflation data for April was softer than anticipated, indicating that the effects of tariffs have not yet fully taken hold. Consequently, traders increased their expectations for approximately 55 basis points in Federal Reserve rate cuts by the end of the year. Gains were primarily driven by consumer discretionary and technology stocks, whereas the healthcare sector lagged behind. Notably, UnitedHealth shares plummeted nearly 13% to a four-year low of approximately $330 following the resignation of its CEO and the withdrawal of the company's financial guidance.