The US Wall Street market has once again recorded positive gains as investors watch the progress of the Beijing-Washington talks that have been going on for 2 days in London.
The major stock indexes showed gains driven by important meetings between US Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick with top Chinese officials in London to discuss the tariff issue.
The S&P 500 index rose 0.55%, the Dow Jones 0.25%, while the technology-focused Nasdaq rose 0.63%.
The bilateral talks went well after US and Chinese officials agreed to continue the trade agreement following two days of talks in London.
Howard Lutnick stated that the US and China have agreed on the framework of the initial trade agreement in Geneva, but its implementation still awaits the approval of US President Donald Trump and Chinese President Xi Jinping.
Lutnick also expects the rare earth and magnet issues to be resolved, and the US will ease export restrictions on China after the country resumes its rare earth exports.
The talks follow a phone call last week between Trump and Xi Jinping who agreed to ease tariff tensions between the two countries.
In other news, shares of electric vehicle (EV) maker Tesla rose 5.6% on the back of advances in self-driving technology and Elon Musk's renewed focus on the company, while Microsoft fell 0.4%.
Investors are now awaiting US consumer price (CPI) data on Wednesday, a key indicator of the Federal Reserve's (Fed) interest rate after the NFP report was published last week.
US stock market volume recorded $18.5 billion compared to a 20-day average of $17.9 billion.
