U. S. stocks surged in early trading Monday after the U. S. and China agreed to a 90-day truce in their escalating trade dispute,…
U. S. stocks surged in early trading Monday after the U. S. and China agreed to a 90-day truce in their escalating trade dispute, sending the Dow Jones Industrial Average up 300 points.
Technology companies led the rally, which followed gains in overseas markets as investors welcomed news of the trade pact, which was struck over dinner between President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 summit over the weekend.
The long-running dispute between the world’s two largest economies has rattled investors for months, stoking traders’ fears that it could begin dragging down corporate profits and weighing on global economic growth.
Technology stocks, industrial companies and banks accounted for much of the market’s gains, offsetting losses in household goods makers and utilities. Energy stocks also rose as U. S. crude oil prices rose sharply.
The S&P 500 index gained 26 points, or 1 percent, to 2,785 as of 10:15 a.m. Eastern Time. The Dow climbed 270 points, or 1.1 percent, to 25,814.
