Wall Street stocks were muted on Tuesday as investors awaited the outcome of ongoing trade talks between the United States and China.
At 10:03 AM ET, the Dow Jones Industrial Average fell 20.22 points, or 0.05%, to 42,742.88, the S&P 500 gained 10.30 points, or 0.17%, to 6,016.18 and the Nasdaq Composite gained 53.92 points, or 0.28%, to 19,645.16.
At the opening bell, the Dow Jones Industrial Average fell 23.5 points, or 0.05%, to 42,738.27. The S&P 500 rose 4.0 points, or 0.07%, to 6,009.91, while the Nasdaq Composite rose 28.9 points, or 0.15%, to 19,620.108.
US Commerce Secretary Howard Lutnick said trade talks with Beijing were going well as officials from the two nations met for a second day in London.
The Trump administration was likely to agree to lift export controls on some semiconductors in return for China speeding up the delivery of rare earth elements, White House economic adviser Kevin Hassett said on Monday.
Investors are awaiting US inflation data due on Wednesday for clues on the Federal Reserve’s monetary policy path.
Gainers and Losers
McDonald’s shares dropped 1.4% after a report said Redburn Atlantic downgraded the fast-food giant to “sell” from “buy”.
Among megacap stocks, Tesla advanced 2.6%, Apple gained 1.03%, Nvidia fell -0.05%, and Microsoft lost 0.69%.
Shares of Insmed climbed 27.7% after the drugmaker said its experimental drug significantly reduced blood pressure in the lungs and improved exercise capacity in patients in a mid-stage study.
