The Dow soars by nearly 300 points in Monday trading as the U. S. and China move back from the edge
NEW YORK – Stocks climbed sharply on Monday after the U. S. and China appeared to make major progress in trade talks. The Chinese government says it will buy more U. S. goods, including energy and agricultural products, and Treasury Secretary Steven Mnuchin says the U. S. postponed tariffs on up to $150 billion in goods from China. Industrial companies and banks made some of the biggest gains, while technology stocks also rose.
After jumping by as much as 371 points, the Dow Jones industrial average ended up by 298 points, or 1.2 percent, to 25,013. The S&P 500 added 20 points, or 0.7 percent, and the Nasdaq composite gained 40 points, or 0.5 percent.
The Russell 2000 index of smaller-company stocks was on pace for another record close as it jumped 10 points, or 0.6 percent, to 1,636.
The U. S. and China concluded two days of trade negotiations with an agreement not to impose tariffs on each other, while Beijing said it will buy more farm goods, energy and other products and services from U. S. companies. The two sides gave no indication of how much progress they had made toward ending their dispute entirely, and both said hostilities could increase again.
Still, President Donald Trump framed the weekend’s talks as a clear victory for the U.
