US Stocks Rise Amid Trade War Developments
US stocks closed higher on Tuesday, led by Big Tech, as investors assessed China's swift retaliation to President Trump's additional tariffs and the potential risks of a trade war.
Key Points:
* The Dow Jones Industrial Average gained 0.3%, while the S&P 500 rose 0.7%.
* The Nasdaq Composite jumped nearly 1.4%, recovering Monday's losses.
* China imposed tariffs on US coal, liquefied natural gas, crude oil, farm equipment, and some autos.
* The US dollar index fell due to easing tensions.
* Alphabet's shares dropped after disappointing cloud revenue.
* AMD shares rose on strong guidance.
* Snap's stock soared after beating expectations.
* Chipotle's stock declined after missing sales estimates.
* Job openings declined more than expected in December, indicating a stabilizing labor market.
* Palantir surged on strong earnings driven by AI demand.
* Oil pared losses despite China's retaliatory tariffs.
* Spotify shares climbed after its first full year of profit.
* European stocks traded cautiously, awaiting developments in the US-China trade dispute.