Wall Street Edges Up Amid Quiet US-China Trade Talks

Investors on Wall Street sat with their noses against computer screens and searched (in vain) for news from the trade talks in London. At the same time, the prices crept slowly upwards and stopped at a plus on the first day of the trading week – which will offer important economic messages.

» Published: June 09 2025

Wall Street Edges Up Amid Quiet US-China Trade Talks
Photo: Richard Drew/AP/TT

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The broad S&P 500 index rose 0.1 percent, the technology-heavy Nasdaq's composite index 0.3 percent and the Dow Jones industrial index closed unchanged.

This after all three indices performed good increases on Friday when the S&P 500 closed above 6,000 points for the first time since the end of February and now lies about 3 percent from its highest closing price so far.

What everyone was waiting for was real results from the second round of trade negotiations between the US and China. But it was very quiet from the talks in London and no news was delivered.

Tesla turned and won

Semiconductor giant Qualcomm rose 4.1 percent after the announcement of plans to buy industry colleague Alphawave for the equivalent of just over 23 billion kronor.

Electric car company Tesla opened trading heavily on minus after the recent days' quarrel on social media between Tesla founder Elon Musk and US President Donald Trump.

But later in the day, the stock got wind under its wings and closed with a plus of 4.6 percent.

Apple released the news of the first new operating system for iPhone since 2013. It did not impress the market and the company's share fell 1.2 percent.

Meta (Facebook) also retreated, 0.5 percent.

Apple's and Meta's declines and Tesla's rise meant that a total of five of the very index-heavy technology companies that are collectively called "The magnificent seven" – "the magnificent seven" – rose.

Eventful week

This because Google owner Alphabet, e-commerce giant Amazon, software giant Microsoft and semiconductor giant Nvidia also went plus.

During the week, several events with potential major stock market impact will take place, in addition to any results from London.

Also, US consumer and producer price indexes will be reported, which will provide clues about the country's inflation level.

In addition, a survey of consumer confidence will be presented, reports CNBC.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers
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