3 June 2025, 23:47 USA: Wall Street Rises on Tech Surge, Labor Data.
US stocks rose on Tuesday, lifted by tech strength, solid labor data, and hopes for progress on trade. The S&P 500 rose 0.6%, the Dow gained 214 points, and the Nasdaq advanced 0.8%, led by a 2.8% rally in Nvidia that briefly made it the most valuable publicly traded company. Other chipmakers like Broadcom (3.3%) and Micron (4.1%) also rose sharply, adding to the chip-driven momentum. A stronger-than-expected JOLTS report showed job openings rose by 191,000 to 7.391 million in April, signaling resilience in the labor market despite trade headwinds. Still, the OECD cut its 2025 US growth forecast to 1.6% from 2.2%, citing policy uncertainty and ongoing tariff tensions. Beijing and Washington exchanged accusations of violating a trade truce, while Trump’s plan to double steel and aluminum tariffs drew EU criticism. Investors are watching for a potential Trump-Xi call this week, which could prove pivotal for trade talks and market sentiment.
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