NEW YORK / LONDON (IT BOLTWISE) – US stock markets are hitting new highs, driven by progress in the US-China tariff dispute. Technology companies such as Tesla and Qualcomm are benefiting from positive market sentiment, while a tentative agreement between the two economic powers is in sight. These developments could offer the markets stability and planning security in the short term.
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US stock markets have hit all-time highs again, driven by recent progress in the US-China tariff dispute. This positive development has given a boost to technology stocks in particular, with companies such as Tesla and Qualcomm benefiting from the optimistic market sentiment. The Dow Jones Industrial exceeded the 47,500 point mark at the start of trading and closed the day with an increase of 0.71 percent at 47,544.59 points. The S&P 500 and the Nasdaq 100 also continued their upward trend.
A key driver of this development is the prospect of an early trade agreement between the world’s two largest economies. Li Chenggang, vice secretary at China’s Ministry of Commerce, confirmed a tentative agreement that is currently undergoing internal approval processes. This news calmed the markets and strengthened hopes for an early resolution to the conflict.
The effects are particularly noticeable in the technology sector. Tesla recorded a strong share price increase of 4.3 percent, while Qualcomm shone with an increase of 11.1 percent. Qualcomm has unveiled its ambitious plans to challenge artificial intelligence leader NVIDIA, exciting investors. The new AI200 product range is scheduled to be available from 2026 and has already won the Saudi Arabian AI startup Humain as its first customer.
The uncertainty surrounding the US threat to impose extra tariffs on Chinese imports from November 1st now appears to be off the table. This also concerns a possible Chinese export control system for rare earths, which, according to US Treasury Secretary Scott Bessent, will not be introduced. Shares of suppliers of these raw materials, such as MP Material and USA Rare Earths, subsequently lost significant value. These developments could offer the markets stability and planning security, at least in the short term.
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