Stocks bounce back as trade tensions ebb

Stocks bounce back as trade tensions ebb

US stock indexes finished a bit higher Monday as investors let go of some of their fears about a possible trade war between the USA and China.

Technology companies like Apple and Microsoft are recovering some of their recent losses and so are industrial companies. Gene therapy developer AveXis is soaring after drugmaker Novartis agreed to buy it for $8.7 billion.

The S&P 500 was up 32.28 points, or 1.24 percent, at 2,636.75 and the Nasdaq Composite was up 113.21 points, or 1.64 percent, at 7,028.32.

In 1.10pm trading in NY, the Dow Jones Industrial Average rallied 1.7 percent, while the Nasdaq Composite Index jumped 2.2 percent. The UK's FTSE 100 Index added 0.2 percent, as did Germany's DAX Index, while France's CAC40 Index increased 0.1 percent.

TRADE WORRIES: Indexes are fluctuating in recent sessions as they try to guess the outcome of the U.S. The S&P 500 fell 1.4 percent last week, with large losses Monday and Friday and strong gains in between. Senior Chinese officials are studying a two-pronged analysis of the yuan-one part looks at the effect of using the currency as a tool in trade negotiations with the United States, while a second part examines what would happen if China devalues the yuan to offset the impact of any trade deal that curbs exports, according to Bloomberg. She said stocks have done well recently when investors can get their minds off the trade disputes because the global economy and the US economy are still growing.

The FANG group, comprising four closely watched internet stocks: Facebook Inc, Amazon.com Inc, Netflix Inc and Alphabet Inc's Google, were up between 1.1 percent and 3.4 percent. Among industrial companies, Boeing rallied $5.43, or 1.7 percent, to $331.55 and Caterpillar gained $2.87, or 2 percent, to $145.86.

Most of the stocks on the New York Stock Exchange finished lower Monday. The yield on the 10-year Treasury note rose to 2.80 percent from 2.77 percent late Friday.

ENERGY: Benchmark U.S. crude rose 45 cents to $63.87 a barrel.

Oil prices traded higher as Brent crude futures rose 0.51 percent to trade at $67.45 per barrel, while US WTI crude futures rose 0.26 percent to trade at $62.22 a barrel.

On the currency front, the U.S. dollar is trading at 107.12 yen compared to the 106.77 yen it fetched at the close of NY trading on Monday. The euro rose to $1.2318 from $1.2285. Japan's Nikkei 225 Index rose by 0.5 percent and Hong Kong's Hang Seng Index tumbled by 1.3 percent.

Asian stocks fared better.

Related News:



Most liked

Brazil's Lula Complies With Federal Judge's Arrest Warrant
Over the last four years, Brazilians have seen near weekly police operations and arrests of the elite. The renovation was bankrolled by a company seeking contracts with the state oil giant Petrobras.

Multiple injuries reported as Masters-bound bus crashes
Westbound traffic has since cleared but eastbound traffic is still heavy with single lane traffic being diverted to the shoulder. Neither the GSP nor Gwinnett police have any previous DUIs on record for Hoppenbrouwer. "Major incident here.

Actress Sri Reddy goes for half n**e and protests on road
According to her statistic, about 90 percent of the women in the film industry would have faced the evils of casting couch. Sri Reddy's public tirade encouraged a few other new actresses, who too claimed to be the victims in the film industry.

Masters 2018: McIlroy coping with Augusta's unique pressures
McIlroy, who is in search of his first Masters victory, backed up his 69 on Thursday with a hard-earned 1 under 71 on Friday. Finau shot a 68 on Thursday and backed that up with a 74 on Friday and is at 2 under for the tournament . "I feel relaxed.

Tony Finau will attempt to play The Masters despite dislocating his ankle
Trending today on KRON4's Morning Buzz, Tiger at the Masters , Tony Finau wrecks his ankle and Bubba Watson makes a trick shot. Weirdly, it looks like he pops it back into place while he's laying on the ground, before getting back up and walking it off.

Saban says "Shop Talk" will continue despite LeBron James complaint
Let's see how this one plays out, but I'm wondering if the makers of Coming to America are thinking about suing LeBron now... Alabama created a series called " Shop Talk ", with the first episode being released last week.

'Violent scourge' on London streets as murder figures overtake NY
Police officers were called to Markhouse Road in Walthamstow on Monday at approximately 10pm after reports of gunshots. A Downing Street spokesman said: "These are all tragic cases and our thoughts are with the families of the victims".

Barcelona has doubts about Messi, Busquets against Roma
We're in the Copa del Rey final, we're well placed in LaLiga and we'll have to see how we get on in the Champions League . Barcelona and Roma have played four games against each other in Champions Leauge history.

Data from SUV shows plunge off cliff may have been intentional
The child had told an elementary school teacher of pain in her stomach and back, which was discovered to be caused by bruises. A search warrant was conducted at the family's home in Woodland, Wash., on Thursday, March 29.

Trump threatens to send military forces to guard US-Mexico border
Trump's claim about being the first to implement such a decision and place troops at the southern border is inherently false. President Donald Trump announced Tuesday that the U.S. -Mexico border will be guarded with American troops.

Skripal poisoning was in UK's interests: Lavrov
The experts are speaking about them. "There could be a whole number of reasons and none of them can be ruled out", Lavrov said. Russian Foreign Minister Sergei Lavrov says the poisoning of Sergei Skripal could have been in Britain's interests.

Egyptian Citizens Spoil Ballots To Vote For Mohamed Salah In Presidential Election
The NEA said the number of invalid ballots was 1,762,231 votes, amounting to 7.27 percent of the total votes. State media had portrayed failure to vote as a betrayal of Egypt .

StormTracker 13 Sunday morning forecast
A few light showers are possible today as well, however, precipitation chances have been steadily decreasing throughout the week. Morning clouds will give way to drier and cooler weather for Friday Afternoon, with highs closer to 60.

IOC chief says Kim committed to Olympics in Tokyo, Beijing
A North Korean team has participated at every addition of the Summer Olympics since they boycotted Seoul 1988. International Olympic Committee delegation's visit to Pyongyang began on Thursday and finished on Saturday.

Trump threatens to hold South Korean trade deal hostage
If the summit takes place, Kim Jong Un will become the first DPRK leader to set foot on South Korean soil in nearly seventy years. Suga declined to say if a meeting between Prime Minister Shinzo Abe and North Korean leader Kim Jong Un is being discussed.