Wall Street Stocks Rise as Nvidia Leads Market Gains

On Wall Street, the stock market upswing continues following Monday's announcement of a paused trade war between China and the USA. The semiconductor giant Nvidia, up 5.7 percent, is acting as a locomotive.

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Wall Street Stocks Rise as Nvidia Leads Market Gains
Photo: Richard Drew/AP/TT

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The steep increases following the customs announcement came to an end on Tuesday in Europe. In New York, it looked better.

The broad S&P 500 index rose 0.7 percent and the technology-heavy Nasdaq composite index climbed 1.6 percent. As expected, following new figures showing that inflation increased less than expected in the US.

For the S&P 500, the closing price means that the year's negative trend has been erased and the index is back in the plus.

The Dow Jones industrial index fell slightly, minus 0.6 percent, with insurance giant United Health as a drag. The company closed at minus 18 percent after CEO Andrew Witty stepped down.

Semiconductor giant Nvidia gained 5.7 percent following the news of a collaboration with the Saudi state development fund PIF during President Donald Trump's state visit to the country.

Chip manufacturers Broadcom and AMD, part of the Saudi collaboration, were also among the winners with increases of 4.9 and 4 percent, respectively.

Electric car manufacturer Tesla, up 5.4 percent, also performed strongly.

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

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