S&P 500 erases year-to-date losses, U.S. stocks continue to rise

On May 13, U.S. stocks rose on Tuesday, with the S&P 500 erasing its year-to-date losses. Lower-than-expected inflation data provided momentum for the stock market rally. The market trend continued the rebound of the past month, bringing the S&P 500 up 0.1% for the year. Before Trump's "Liberation Day" tariffs announced on April 2, escalating trade tensions had already damaged U.S. stocks, with investors selling American assets and lowering economic growth expectations, causing the index to plummet by up to 15%. However, on April 9, after Trump suspended tariffs on most countries, traders rushed back into the stock market. Shep Perkins, stock fund manager at Putnam Investments, said, "The main trend of the past few months suddenly reversed. The China-U.S. trade agreement was a huge positive surprise." (Kin)