Stocks Erase 2025 Drop as Nvidia Powers Tech Rally: Markets Wrap

A rally in the world’s largest technology companies wiped out the stock market’s losses for the year on bets tensions around Donald Trump’s trade war are cooling, with inflation data showing limited impacts thus far.

Equities climbed to the highest since February, the month that marked the S&P 500’s all-time high. The gauge was up almost 1%, with chipmakers leading the charge as Nvidia Corp. and Advanced Micro Devices Inc. will supply semiconductors to Saudi Arabian firm Humain for a massive data-center project. Treasuries erased gains on speculation the Federal Reserve will stay put as it evaluates potential implications of tariffs. The dollar fell.