Tech led US stocks on Tuesday as a key consumer inflation print showed inflation accelerated in June, big banks kicked off earnings season, and Nvidia was set to receive a green light for trade with China from the Trump administration.

Once dismissed, China’s smallest exchange now leads in IPO applications amid a microcap tech rally driven by AI and policy support.

The Dow Jones dropped Wednesday on Trump China news and cool inflation data. Tesla rallied on the stock market today.

Investors are growing skeptical that Chinese developer stocks will stage a rebound this year, as Beijing’s reluctance to unleash sweeping stimulus deepens pessimism about the sector.

Nvidia stock jumped Tuesday after the AI chipmaker said it was applying to resume sales of its H20 GPUs to China.

Chinese Commerce minister Wang Wentao said he hopes that multinational companies including Nvidia would provide Chinese customers with high-quality products,

For strategists at JPMorgan Chase & Co. and Goldman Sachs Group Inc. as well as money managers in Hong Kong and Singapore, an opaque term has suddenly emerged as the catchphrase for deciphering Chinese policy intentions and navigating the stock market.

A trade agreement last month between the U.S. and China slashed tit-for-tat tariffs between the world's two largest economies and triggered a surge in the stock market. Within days, Wall Street firms softened their forecasts of a downturn.

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As part of the arrangement, Baidu will introduce thousands of its Apollo Go autonomous vehicles on Uber’s platform in areas outside of China and the United States.

Sectors with high exposure to USD-denominated debt—such as home appliances, transportation, non-ferrous metals, and electronics—are likely to receive the biggest earnings boost from a weaker dollar, as their financing costs ease.