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Stocks end higher, but not as much as earlier after trade truce

Stocks end higher, but not as much as earlier after trade truce

FINANCIAL NEWS

Stocks end higher, but not as much as earlier after trade truce


Stocks closed higher on Monday, though they pared earlier gains.

The markets were buoyed after the White House agreed to resume trade talks with China and hold off on slapping additional tariffs on $300 billion of Chinese imports.

All three main U.S. stock indexes rose. The Dow Jones industrial average rose 117 points, or 0.44%, to close at 26,717, while the Standard & Poor’s 500 index ended up almost 23 points, or 0.77%, to 2,964.

The tech-heavy Nasdaq added 85 points, or 1.06%, to finish at 8,091 on Monday. Tech stocks got a boost after President Donald Trump promised to soften a ban on U.S. companies doing business with Huawei Technologies Co., the Chinese tech giant.

Micron Technology jumped 3.94% to end at $40.11 a share. Apple shares rose 1.83% and finished at $201.55.

The White House has yet to provide details on the temporary truce the two countries agreed to at the G-20 summit. Existing tariffs also were not lifted, another damper on business growth.

Trade tensions have whipsawed stocks over the past months as investors fret that any escalation could harm the global economy. Despite the volatility, stocks have put forth an impressive rally in the first half of the year.

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The S&P 500 is up more than 17%, hitting an all-time high last month and recording its best six-month start since 1997. The Dow has added a robust 14%, while the Nasdaq has jumped almost 21%.



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