AdvertisementBusinessDylan Halvorsan works on the floor of the New York Stock Exchange, Tuesday, May 27, 2025. (AP Photo/Richard Drew)10 Jun 2025 04:41AM (Updated: 10 Jun 2025 04:42AM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST NEW YORK: The S&P 500 ended slightly higher on Monday (Jun 9), lifted by Amazon and Alphabet, while investors watched US-China negotiations aimed at mending a trade dispute that has rattled financial markets for much of the year.Top officials from both countries have kicked off discussions, looking to get back on track with a preliminary trade agreement struck last month that had briefly cooled tensions between the world's largest economies.“The market deems any dialogue with Beijing as progress, whether or not it leads to tangible results. The market is just going to take the administration's word for it, until proven otherwise,” said Jake Dollarhide, CEO of Longbow Asset Management in Tulsa, Oklahoma.Amazon and Google parent Alphabet each gained and helped lift the S&P 500.Amazon.com said it plans to invest at least US$20 billion in Pennsylvania to expand data centre infrastructure, adding to the billions of dollars the technology giant has committed to the expansion of artificial intelligence.Apple dipped after the iPhone maker kicked off its annual software developer conference with incremental developments that did little to impress investors.US-China trade talks in London hang over marketsAccording to preliminary data, the S&P 500 gained 3.84 points, or 0.06 per cent, to end at 6,004.20 points, while the Nasdaq Composite gained 57.93 points, or 0.30 per cent, to 19,587.89. The Dow Jones Industrial Average fell 8.82 points, or 0.02 per cent, to 42,754.05.Expectations of more trade deals between the US and its major trading partners, along with upbeat earnings and tame inflation data, helped US equities rally in May, with the S&P 500 and the tech-heavy Nasdaq notching their best monthly gains since November 2023.The S&P 500 remained about 2 per cent below its all-time high touched in February, while the Nasdaq is about 3 per cent below its December record high.Warner Bros Discovery fell after the company said it would separate its studios and streaming business from its struggling cable television networks. Immediately after the announcement, it had surged as much as 13 per cent.CNA Explains: What's next for US-China trade ties, after temporary tariff truce?Shares of McDonald's dipped after Morgan Stanley downgraded the fast-food restaurant to "equal-weight" from "overweight".Robinhood Markets dropped after S&P Dow Jones Indices left S&P 500 constituents unchanged in its latest rebalancing, following recent speculation that the online brokerage would be added to the benchmark index.Major data releases this week include readings on May consumer prices on Wednesday and initial jobless claims on Thursday. While investors widely expect the Federal Reserve to keep interest rates unchanged next week, focus will be on any signs of a pick-up in inflation as Trump's tariffs risk raising price pressures.Source: Reuters/fsSign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...