Trade Truce Sends Stocks Solidly Higher

Dow ends day up 287
By Newser Editors and Wire Services
Posted Dec 3, 2018 3:04 PM CST
Trade Truce Sends Stocks Solidly Higher
Trader Michael Milano, right, works on the floor of the New York Stock Exchange, Monday, Dec. 3, 2018.   (AP Photo/Richard Drew)

(Newser) – Stocks finished solidly higher on Wall Street as investors welcomed news of a 90-day truce in the trade battle between the US and China, the AP reports. The broad rally Monday, which lost some of its early morning momentum, followed gains in overseas markets. The stand-down was agreed to over the weekend at a meeting between President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 summit. Technology companies did particularly well. Chipmaker Advanced Micro Devices jumped 11.3%. The price of oil rallied 4%, sending energy companies higher. The Dow Jones Industrial Average rose 287 points, or 1.1%, to 25,826. It was up 441 earlier. The S&P 500 index rose 30 points, or 1.1%, to 2,790. The Nasdaq increased 110 points, or 1.5%, to 7,441. (Read more stock market stories.)

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