Wall Street today: US stocks gain amid trade tensions, Nvidia surges 2.7%

US stocks rose on Tuesday amid worries over ongoing trade tensions fuelled by President Donald Trump’s tariffs and lowered economic expectations.

Days after Trump accused China of violating an agreement to de-escalate trade war, the US president is likely to speak With Chinese leader Xi Jinping this week.

At 11:47 AMEDT,the S&P 500 rose 0.46%, the Nasdaq Composite gained 0.77%, and the Dow Jones Industrial Average was up 0.31%.

As of 9:35 AM Eastern time, the S&P 500 and the Nasdaq Composite were flat. The Dow Jones Industrial Average was up 0.1%.

On Monday, the European Commission said it would push the US to cut or eliminate tariffs, despite Trump's announcement to double tariffs on steel and aluminium imports to 50%.

Meanwhile, the Trump administration has asked countries to submit their trade offers by Wednesday, in order to accelerate talks ahead of a five-week deadline, reported Reuters.

In an economic update, the OECD said on Tuesday that the global economy was on course to slowdown to 2.9% in 2025 and 2026 from 3.3% last year.

In the bond market, the yield on the 10-year Treasury fell to 4.44% from 4.46% late on Monday.

Gainers and Losers

Shares of Nvidia Corp. rose 2.7% on last week’s upbeat earnings report.

Broadcom stock climbed 2.1% ahead of the chipmaker’s results later this week.

Constellation Energy shares gained 2.9% after Meta Platforms said it had inked a pact with the utility's nuclear plant.

Other nuclear stocks also rose, with Vistra Corp rising 4.4%, GE Vernova adding 1.8%, and NuScale Power up 2.1%.

Pinterest shares advanced 4.7% after JP Morgan raised its rating to "overweight" from "neutral".

Dollar General soared 12.9% after the retailer raised its annual sales forecast.

Bullion

Gold prices retreated on Tuesday on a rebound in the US dollar and profit-taking.

Spot gold fell 0.7% to $3,356.75 an ounce as of 1125 GMT. US gold futures dropped 0.5% to $3,381.30.

Spot silver eased 1.5% to $34.26 an ounce, platinum lost 0.6% to $1,056.70, while palladium rose 0.5% at $993.63.

Crude oil

Oil prices climbed on Tuesday, on persistent geopolitical tensions between Russia and Ukraine and the US and Iran.

Brent crude futures rose $1.11, or 1.7%, to $65.74 a barrel at 11:21 AM EDT (1521 GMT). US West Texas Intermediate (WTI) crude rose $1.17, or 1.9%, to $63.69.