S&P 500 climbs past 6,000 as US–China meet in London to discuss rare earth exports and tariff relief
On Monday, US and Chinese officials resumed trade negotiations in London, focusing on restoring critical mineral exports—a development that lifted semiconductor stocks and nudged the S&P 500 higher.
According to CNBC, the S&P 500 added 0.09 percent to close at 6,005.88, marking its second straight winning session.
US National Economic Council Director Kevin Hassett told CNBC that the meeting aimed “to make sure that they’re serious … to literally get handshakes … and get this thing behind us.”
He added, “Our expectation is that … immediately after the handshake, any export controls from the US will be eased.” He said the rare earths would then be released in volume, allowing both sides to resume negotiations on smaller matters.
The talks included US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer.
A source familiar with the matter told CNBC the discussions are expected to continue Tuesday morning.
The meetings follow a phone call last week between former US President Donald Trump and Chinese President Xi Jinping, and last month’s mutual agreement to temporarily reduce tariffs.
Semiconductor shares rallied on Monday.
Qualcomm rose more than 4 percent after announcing its acquisition of semiconductor firm Alphawave for US$2.4bn.
Advanced Micro Devices gained 4.8 percent, Texas Instruments climbed 3.5 percent, and Nvidia shares also ticked higher. Chinese tech firm Alibaba increased 1.8 percent.
“Investors are taking bullish trades today on China large caps and US semiconductor stocks, which are both beneficiaries of US/China trade talks,” said Larry Tentarelli, chief technical strategist for Blue Chip Daily Trend Report.
The Nasdaq Composite advanced 0.31 percent to 19,591.24, while the Dow Jones Industrial Average slipped 1.11 points to close at 42,761.76.
Apple shares declined 1.2 percent as the company hosted its 2025 Worldwide Developers Conference and revealed the first redesign of its iPhone operating system since 2013.
Investors are now looking ahead to inflation data scheduled for later in the week.
The consumer price index is due Wednesday, followed by the producer price index on Thursday.
Analysts will be watching for indications of how tariff adjustments are filtering through broader economic conditions.
On Friday, the S&P 500 closed above the 6,000 mark for the first time since February 21, helping all three major indexes to notch a second consecutive weekly gain.
