00:00U.S. stock indexes closed higher on Tuesday, helped by gains in NVIDIA and other chipmakers
00:06as investors awaited possible negotiations between the United States and its trading
00:11partners for more clarity on Washington's tariffs plan.
00:14President Donald Trump and Chinese leader Xi Jinping are set to speak this week.
00:18The White House said on Monday, days after Trump accused China of violating a Geneva
00:23agreement to roll back tariffs and trade restrictions.
00:30Beijing said it would safeguard its interests and that the accusation was groundless.
00:36According to a draft letter to negotiating partners seen by Reuters, the Trump administration
00:41wants countries to provide their best offer on trade negotiations by Wednesday as officials
00:46seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks.
00:52In May, a softening of Trump's harsh trade stance allowed a recovery in risky assets with the
00:57benchmark S&P 500 and the tech-heavy Nasdaq, boasting their biggest monthly percentage gain
01:03since November 2023.
01:05Factory orders down after a couple months of strong gains.
01:10You know, I do think that there's a lot of noise in this kind of import-export manufacturing data
01:15because of the tariffs, the rollout, the way they've been implemented, businesses trying to
01:20kind of deal with this big change on the fly.
01:24So you saw a big rush of imports, people trying to order stuff ahead of time, build inventory
01:29just to prepare for whatever might come next because there was so much uncertainty.
01:34Now you're seeing a little bit of deflation.
01:37We've seen the tariffs walk back.
01:38At least we have this 90-day pause.
01:40And so you see this downtick in factory orders.
01:42I mean, ultimately, manufacturing is not a very big part of the economy.
01:45But I do think that it's emblematic of the kind of uncertainty and volatility that has
01:50gripped that sector amid this tariff tantrum and tariff uncertainty and likely will continue
01:56to.
01:57You know, we have this 90-day pause.
01:58But June, July, I would expect to be in a similar boat where you have very noisy data
02:03and probably ultimately not a lot of signal to be taken from it, except that maybe companies
02:08have done enough inventory building and are kind of pulling their foot off the gas at this
02:13point.
02:13The S&P 500 gained 34.43 points, or 0.58%, to end at 5,970.37 points, while the Nasdaq
02:24Composite gained 156.34 points, or 0.81%, to 19,398.96.
02:32The Dow Jones Industrial Average rose 214.16 points, or 0.51%, to 42,519.64.
02:41The Dow Jones Industrial Average rose 214.16 points, or 0.52%, to 42,640 points, or 0.52%, to 44,580.
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