Expectations for US-China trade talks lead S&P500 to surpass 6000 for the first time...Technology stocks rebounding

Stock market expecting positive results from the trade talks between U.S. and China (Source: Bloomberg)

As expectations for the resumption of trade talks between the U.S. and China grow, global financial markets rose significantly. In particular, the U.S. S&P500 futures index rose by 0.2%, surpassing the 6000 mark for the first time. This is the first psychological resistance level breakthrough recorded since February and reflects strong buying pressure in the market.

Ahead of the high-level U.S.-China talks scheduled in London on the 9th, investors are hopeful for the easing of tensions between the two countries. In the Hong Kong stock market, mainland China stocks have entered a bull market, and emerging markets also approached their highest level in three years. On the other hand, major European indices showed a slight decline, reflecting differences.

Despite the uncertainty sparked by President Donald Trump's recent tariff remarks, the market is seeking a rebound centered on tech stocks. Keith Lerner, Chief Investment Officer at Truist Advisory, predicted, "Tariffs are still a variable, but with tech stocks returning to the market center, new all-time high breakthroughs are possible."

On this day, Tesla fell by 2.3% due to the conflict issue between President Trump and CEO Elon Musk, while Warner Bros. Discovery rose over 5% supported by the business division issue. In the foreign exchange market, the dollar fell by 0.2%, and the yield on the U.S. 10-year treasury bond stood steady at 4.50%.

The cryptocurrency and commodities markets also showed an upward trend. Bitcoin rose by 1.2% to record $107,484, and Ethereum rose by 0.4% to trade at $2,542. Crude oil (WTI) rose by 0.4% to $64.86 per barrel, and gold was up by 0.2% at $3,317 per ounce.

This week's stock market direction is expected to be determined by major events, such as the practical progress of U.S.-China trade talks, the release of the May Consumer Price Index (CPI), and the results of the $22 billion 30-year U.S. Treasury bond auction.