FX.co ★ Wall Street Rises on Tech Surge, Labor Data

On Tuesday, U.S. stocks experienced an upswing, driven by robust tech performance, positive labor market data, and optimism surrounding trade discussions. The S&P 500 climbed by 0.6%, the Dow increased by 214 points, and the Nasdaq saw a rise of 0.8%. This was largely bolstered by a notable 2.8% surge in Nvidia's stock, briefly positioning it as the most valuable publicly traded company. Other semiconductor firms, such as Broadcom, which climbed 3.3%, and Micron, which rose 4.1%, also contributed to the upward momentum within the chip sector. Additionally, a stronger-than-expected JOLTS report revealed an increase in job openings by 191,000, reaching a total of 7.391 million in April. This data indicates resilience in the labor market despite existing trade challenges. However, the Organization for Economic Co-operation and Development (OECD) has adjusted its 2025 U.S. growth forecast downward to 1.6% from the previous 2.2%, citing policy uncertainty and ongoing tariff disputes as concerns. Tensions between Beijing and Washington persisted, with mutual accusations of trade truce violations. Moreover, President Trump’s proposal to double tariffs on steel and aluminum faced criticism from the European Union. Investors are closely monitoring the possibility of a call between President Trump and President Xi Jinping this week, which could significantly influence trade negotiations and market sentiment.