Dow Jones Closes up by More Than 650 Points

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NWC

Administrator
Dec 2, 2017
26
7
3
www.spartareport.com
#1
I guess the Trade Wars are over?

Stocks closed sharply higher on Monday, bouncing back from strong losses in the previous session as trade tensions between the U.S. and China appeared to ease.

The Dow Jones industrial average surged 669.40 points to 24,202.60, with Microsoft as the best-performing stock in the index. The S&P 500 gained 2.7 percent to close at 2,658.55 — bounce off its 200-day moving average— with technology and financials leading all sectors higher. The Nasdaq composite advanced 3.3 percent to 7,220.54 with Apple and Amazon both rising.

Financials rose sharply, with the Financial Select Sector SPDR S&P Fund (XLF) up 3.3 percent. The XLF posted its biggest one-day gain since November 2016.

The Financial Times reported China has offered to buy more semiconductors from the U.S. to help cut its trade surplus with the U.S. Shares of Qualcomm and Intel rose 4.6 percent and 6.3 percent, respectively, on the news.

The Wall Street Journal also reported that U.S. and Chinese officials are working to improve U.S. access to China's markets.
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