NEW YORK (Reuters) – The New York Stock Exchange ended higher on Tuesday, helped by China’s stimulus measures, which particularly benefited mining stocks.

The Dow Jones index gained 83.57 points or 0.20% to 42,208.22 points.

The broader S&P 500 gained 14.36 points or 0.25% to 5,732.93.

The Nasdaq Composite rose 0.56% or 100.25 points to 18,074.52 points.

China unveiled its biggest economic stimulus package since the Covid-19 pandemic on Tuesday, pumping more cash into the economy and cutting interest rates in an attempt to revive a moribund economy mired in a prolonged property crisis.

“The session was driven primarily by overnight announcements in China, which caused a sharp rise in international stocks and also partly fueled the US market. The stocks most sensitive to China, cyclical industries such as metals and mining equipment outperformed,” commented Zachary Hill, portfolio manager at Horizon Investments.

Mining groups Freeport-McMoRan (+7.93%), Southern Copper (+7.22%) and Arcadium Lithium (+3.2%) were sought after, as were shares listed in the United States of Chinese companies such as Alibaba (+7.88%), PDD Holdings and Li Auto.

The indices briefly lost ground in early trading after an unexpected drop in the Conference Board’s U.S. consumer confidence index.

In particular, Visa lost 5.49% after the announcement of a complaint filed by the Department of Justice against the payment group for anti-competitive practices in the United States.

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(Echo Wang in New York, Jean-Stéphane Brosse for the )

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