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U.S. stocks climbed Tuesday, buoyed by stronger-than-expected labor data and optimism around potential U.S.-China trade talks, which helped offset economic growth warnings from the OECD.\u00a0<\/p>\n
The Dow Jones Industrial Average rose 214 points, or 0.51%, while the S&P 500 gained 0.58%. The tech-heavy Nasdaq outperformed, rising 0.81%, powered by a rally<\/a> in chip stocks led by Nvidia<\/p>\n A surprise uptick<\/a> in April\u2019s job openings, reported in the JOLTS update, reassured investors about labor market resilience even as tariff hikes take hold. Openings rose to 7.39 million, setting a positive tone ahead of Friday\u2019s May jobs report.\u00a0<\/p>\n Hiring rates also increased, signaling continued labor market strength despite growing economic uncertainty.<\/p>\n <\/p>\n The gains came despite the OECD slashing its 2025 U.S. growth forecast to 1.6% from 2.2%, citing the dampening effect of President Trump\u2019s tariff plans on investment and confidence. Global growth was also revised lower, with trade-policy uncertainty weighing on activity.\u00a0<\/p>\n China\u2019s factory sector posted its worst performance since 2022, reflecting the impact of renewed trade tensions.<\/p>\n Markets looked past the gloom, focusing instead on signs that Trump and Chinese President Xi Jinping may speak<\/a> this week. That possibility, along with indications that Trump may soften some tariff plans, helped fuel a rally in semiconductor stocks.\u00a0<\/p>\n Nvidia jumped over 3%, reclaiming its position as the world\u2019s most valuable company, while Broadcom and Micron gained more than 2% and 4%, respectively.<\/p>\nOECD\u2019s growth forecast\u00a0<\/h2>\n