NASDAQ leads Wall Street higher towards 19,000 points

Most US stock indices, except the Dow, rose on Tuesday, led by the tech sector as the trade tensions cooled. 

Earlier data showed US consumer prices rose 2.3% y/y in April, down from 2.4% in March, and below estimates of 2.4%.

US core prices, excluding food and energy, rose 2.8% in April, same as March and matching estimates.

US consumer prices rose 0.2% m/m in April, below estimates of a 0.3% rise, and compared to March's 0.1% contraction.

The US and China announced a massive cut in reciprocal tariffs for 90 days amid efforts to contain trade tensions and reach a resolution.

According to the temporary agreement, the US will cut tariffs from 145% to 30%, including a 20% tariff related to fentanyl, while China will cut tariffs from 125% to 10%.

In addition, Trump also reduced tariffs on small Chinese packages, worth less than $800, from 120% to 54%.

On trading, Dow Jones fell 0.3% as of 15:09 GMT, or 144 points to 42265 points, while S&P 500 rose 0.6%, or 33 points to 5877 points, as NASDAQ rallied 1.1%, or 211 points to 18,912 points.