Major Indexes Edge Higher Amid Renewed U.S.-China Trade Talks
02:46 Share

You can Venmo this, or you can Venmo that. Venmo this, or you can Venmo that.

The Venmo MasterCard is issued by the Bancorp Bank, and a pursuant to license by MasterCard International Incorporated card may be used everywhere MasterCard is accepted. Venmo purchase restrictions apply. Here's your closing bell brief for Monday, June 9th. I'm Danny Lewis for The Wall Street Journal. Major stock indexes edged less than a percentage point higher amid renewed trade negotiations between the U.S. and China.

The S&P 500 gained almost six points, the Nasdaq rose 61 points, and the Dow Jones Industrial Average stayed about flat, losing one point to close at 42,762. During the ongoing trade talks in London, U.S. negotiators are expected to press their counterparts to speed up exports of rare earth minerals and magnets, while the Chinese team will push Washington to remove recent restrictions on the sale of jet engines and a variety of technology and other products.

The negotiations are taking place as new data shows Chinese shipments to the U.S. last month sank 35 percent from a year earlier. That's the largest pullback on record since 1984, aside from the collapse in trade amid the start of the COVID-19 pandemic in February 2020. The trade talks also boosted chip stocks. AMD rose almost 5 percent, and Qualcomm gained 4 percent after announcing plans to buy semiconductor company AlphaWave IP.

in other individual companies. The trade negotiations with China helped boost stock in the biggest rare earth miner in the U.S. Shares of MP Materials rose 8 percent. Shares of Warner Brothers Discovery fell 3 percent after the conglomerate announced plans to split into two standalone companies, one for its HBO Max streaming service, movie studio, and TV production business, while the other will be home to its dozens of cable networks, including CNN, TNT, and TBS.

And Apple stock slid after the new artificial intelligence tools announced during the first day of its worldwide developers conference failed to impress investors. Shares fell 1.2%. We'll have a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.