SPX: S&P 500 Turns Positive for the Year as Trump Praises “Total Reset” in US-China Trade

Broad market index recovered from a steep 15% loss and is now in the black for the year. Nvidia reclaimed the $3 trillion price tag.

😎 S&P 500 Is So Back

• The S&P 500 index (SPX) is back in the black for 2025 after a series of good news from Washington stirred trading and had investors salivating for share shopping. The broad market index climbed 0.7% on Tuesday, bringing its year-to-date performance to the itsy-bitsy gain of 0.3%, or 18 points.
• It ain’t much, but … yes it is! The 500-strong index was languishing deep in red to the tune of 15% underwater as recently as early April. From that nadir, an 18% pop has revived markets’ hopes that we’re so back.

📈 A “Total Reset” Lifts Stocks

• The latest turn came on Monday when President Trump said that the US had agreed to drop its hostile 145% tariffs on Chinese goods to just 30%. What’s even better — China got in the game too, slashing its 125% tariffs to just 10%. Business as usual? For 90 days at least, as that’s what the deal envisioned. A “total reset,” Trump said on the refreshed US-China relations.
• What followed was a rush back into risk assets with equities rallying hard. Big tech, especially the Magnificent Seven, was out there doing numbers and helping lift the major equity indices higher. The Nasdaq Composite jumped 1.6% a day after its powerful 4.3% pop. The Dow Jones wrapped up in the red by 0.6%.

👑 Who’s Got the Crown?

• AI was a particularly bright spot on the heatmap. Shares of Nvidia NVDA on Tuesday popped 5.6% to close at $129.93, propelling the chipmaker’s market capitalization to just under $3.2 trillion, or the third biggest company in the world.
• Apple AAPL, which is also doing well this week, is holding the second place with just a billion more and Microsoft towers over everyone with a valuation of $3.3 trillion.