US equity benchmarks climbed on Thursday due to upbeat sentiments regarding the US-China meeting and as Nvidia and Cisco shares surged.
At the opening bell, the Dow Jones Industrial Average rose 150.4 points, or 0.30%, to 49,843.58. The S&P 500 rose 10.1 points, or 0.14%, to 7,454.4, while the Nasdaq Composite rose 23.1 points, or 0.09%, to 26,425.468.
Traders are hoping that Trump’s China trip delivers breakthroughs in Washington’s attempts to secure a truce deal with Iran that results in the unblocking of the Strait of Hormuz.
for lessening commerce frictions between the two superpowers.
Chinese leader Xi Jinping’s reception of US President Donald Trump featured much of formal spectacle, but also a sharp caution regarding Taiwan.
US retail sales in April rose 0.5% from the preceding month, though the expansion included the price-increase effect of costlier fuel rates following Iran’s barring of Hormuz to most fuel vessels.
Cisco shares jumped 16.2% as the firm increased its yearly forecasts, mentioning intense demand for AI-specific assets.
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