The New York stock market closed with mixed results on Monday.
Investors remained cautious as U.S. and Chinese negotiating teams resumed trade discussions in London.
After two days of gains since June 6, the major indices saw a late shift. The Dow Jones Industrial Average dipped slightly into negative territory, while the S&P 500 held onto modest gains after its initial rise narrowed significantly.
Tesla’s stock jumped 4.6% as tensions eased between CEO Elon Musk and U.S. President Donald Trump.
Apple, however, saw its shares decline on the first day of its Worldwide Developers Conference (WWDC). Apple’s stock typically rallies during WWDC, but news of a delayed update to its AI-equipped version of Siri dampened investor enthusiasm.
Late-day Fluctuations
The three major indices initially rose on optimism surrounding U.S.-China trade talks, but the Dow turned slightly negative in the final hours of trading.
The Dow Jones Industrial Average closed down 1.11 points (0.00%) at 42,761.76.
The S&P 500 eked out a gain of 5.52 points (0.09%), finishing at 6,005.88.
The Nasdaq Composite added 61.28 points (0.31%), closing at 19,591.24.
Investors are eagerly awaiting the results of the U.S.-China trade negotiations held in London.
Tesla Rebounds
Tesla shares surged 13.44 USD (4.55%) to close at 308.58 USD.
The stock rallied as tensions appeared to ease between Musk and Trump, with Musk deleting tweets critical of Trump following what seemed to be an ultimatum.
After plummeting 14.3% to 284.70 USD on June 5 amid the conflict, Tesla has since rebounded, gaining 3.67% on June 6 and 4.55% on Monday.
The stock has now narrowed its total decline to 7.1%, recovering about half of the 14.3% drop from June 5.
Tesla is set to launch its autonomous robo-taxi service, the Cybercab, in Austin, Texas, on Thursday.
Apple Stumbles
Apple failed to see its usual WWDC stock boost.
The company’s shares fell after Craig Federighi, Apple’s Senior Vice President of Software Engineering, suggested that the release of the updated Siri with Apple Intelligence might be delayed until next year.
Apple cited the need for more time to meet its high-quality standards, projecting a launch next year.
Investors expressed disappointment over Apple’s commitment to on-device AI rather than cloud-based solutions, pushing the stock down 2.47 USD (1.21%) to 201.45 USD.
M7 Mostly Rise
Along with Apple, Meta Platforms also declined, dropping 3.65 USD (0.52%) to 694.06 USD.
However, other major tech stocks saw gains.
Microsoft rose 2.37 USD (0.50%) to 472.75 USD, while Alphabet climbed 2.92 USD (1.67%) to 177.63 USD.
Amazon shares increased by 3.41 USD (1.60%) to 216.98 USD.
