Wall Street's rally stretched into a second session Tuesday, fueled by improving investor sentiment after an early-week breakthrough in U.S.-China trade talks, easing inflation data and fresh geopolitical headlines involving major investment pledges from the Middle East.
The deal between Nvidia and Humain came during U.S. President Donald Trump's visit to the Gulf, which includes a strategic economic pact with Saudi Arabia to boost U.S. investment in the region.
Morgan Stanley economists said an acceleration in new car prices may have been partly offset by another month of negative used car inflation and a declaration in apparel prices.
Summers said China didn't make any consequential or significant change in its policies and that it was the U.S. that made a retreat from its extreme tariff policy.
Tariff news flow, first-tier economic data, and a few earnings reports could decide the day's trading direction, although the momentum is decisively in favor of further gains.
JPMorgan analysts said President Trump’s "most favored nation" drug pricing order is unlikely to move forward without Congressional support and will likely face legal and industry resistance, limiting its near-term impact on pharma stocks.
U.S. Treasury Secretary Scott Bessent cited the need to protect the semiconductor, steel, and pharmaceutical industries in the negotiations between the two countries.
