U.S. stock indexes drifted closer to their all-time highs on Tuesday as the wait continued to hear what will come of trade talks between the United States and China.

The S&P 500 rose 0.5% as talks between the world’s two largest economies carried into a second day. The Dow Jones industrial average added 105 points, or 0.2%, and the Nasdaq composite gained 0.6%.

Stock indexes have roared higher since dropping roughly 20% below their record two months ago, when President Donald Trump shocked financial markets with his announcement of tariffs that were so stiff that they raised worries about a possible recession. The S&P 500 is back within 1.7% of its record set in February.

On Wall Street, Designer Brands, the company behind the DSW shoe store chain, became the latest U.S. company to yank its financial forecasts for 2025.

The company, which also owns the Keds, Jessica Simpson and other shoe brands, reported a larger loss for the start of the year than analysts were expecting, and the company’s stock tumbled 18.2%.

J.M. Smucker fell 15.6% even though its results for the latest quarter topped analysts’ expectations. Its revenue fell short of expectations, as did its forecast for profit in the upcoming year.

Tesla helped to make up for such losses after rising 5.7%.

Shares that trade in the United States of chipmaking giant Taiwan Semiconductor Manufacturing Co. rose 2.6% after the company ksaid its revenue in May jumped nearly 40% from the year earlier.

Casey’s General Stores leaped 11.6% after the chain of convenience stores based in Ankeny, Iowa, reported a stronger profit for the latest quarter than analysts expected. It credited strength in sales of hot sandwiches and other items.

All told, the S&P 500 rose 32.93 points to 6,038.81. The Dow added 105.11 to 42,866.87, and the Nasdaq composite climbed 123.75 to 19,714.99.

In the bond market, the yield on the 10-year Treasury eased to 4.47% from 4.49% late Monday.

— Associated Press