U.S. stocks closed mostly higher one day after the broad S&P 500 index turned positive for the year after tumbling in the aftermath of the April tariff roll-out.
The Dow Jones Industrial Average lost 0.2% or 89.37 points to close at 42,051.06, despite big gains for NVIDIA Corp. The S&P 500 added 6.03 points, about 0.1%, to close at 5,891.58. The tech-heavy Nasdaq jumped 0.7%, up 136.72 points, to 19,146.81, putting it less than 1% lower for the year to date.
Stocks got a boost earlier in the week after the U.S. and China announced a 90-day pause on some tariffs. Effective Wednesday, U.S. tariffs on Chinese goods drop to 30% from 145% and Chinese tariffs on U.S. goods fall to 10% from 125%. Lower tariffs reduce the chance the U.S. economy will fall into a recession, economists said.
The benchmark U.S. 10-year note rose 3 basis points to 4.528%.