Dow Ends Day Up 336

Stocks surge as fears of trade war ease
By Newser Editors and Wire Services
Posted Mar 5, 2018 3:11 PM CST
Sal Suarino, right, works with fellow traders on the floor of the New York Stock Exchange, Monday, March 5, 2018.   (AP Photo/Richard Drew)

(Newser) – Waning fears that a trade war would break out helped power stocks sharply higher on Wall Street, the AP reports. The market shook off an early wobble and surged in afternoon trading Monday. Investors are hoping the White House won't follow through on threats to impose steep tariffs on imported steel and aluminum. Stocks turned higher as House Speaker Paul Ryan criticized the planned tariffs and urged President Donald Trump not to go through with them. Big US exporters rose sharply. Boeing climbed 2.3% and heavy equipment maker Caterpillar jumped 3.2%. The Standard & Poor's 500 index rose 29 points, or 1.1%, to 2,720. The Dow Jones industrial average jumped 336 points, or 1.4%, to 24,874. The Nasdaq composite rose 72 points, or 1%, to 7,330. (Read more stock market stories.)

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