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.
Analysts who lowered price targets expressed concerns over near-term export risk and product mix while maintaining bullish long-term views tied to AI and AMD’s competitive position in the PC and server markets.
Utility stocks hit new highs amid trade policy uncertainty, with Utilities Select Sector SPDR Fund up 6.3% YTD. Constellation Energy Corp. jumps 11.87%.
Analysts warn that while Palantir's execution is impressive, concerns remain that its stock trades at a valuation difficult to justify without further acceleration.
Phillip Securities lowered its price target on Apple on Monday to $200 from $235, citing reduced gross margin estimates linked to higher tariffs and persistent weakness in China following the company’s Q2 earnings.
Chief Executive Hassane El-Khoury stated that the company continues to see strong design win momentum and has secured key wins with major global customers across all end-markets.
Wall Street pushed higher in midday trading, with the S&P 500 on track for its eighth consecutive gain — its longest winning streak since November 2023. The index rose about 1% to 5,560, fully recovering the losses sustained after former President Donald Trump announced trade tariffs on April 2.
