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S&P 500 Hits Record on Trade Optimism

Dow ends day up 117
By Newser Editors and Wire Services
Posted Jul 1, 2019 3:00 PM CDT
Trader Michael Milano works on the floor of the New York Stock Exchange, Monday, July 1, 2019.   (AP Photo/Richard Drew)

(Newser) – The S&P 500 is closing at a record Monday as investors welcome a truce in the trade dispute between the US and China, the AP reports. The two sides agreed to resume talks and the US said it would hold off on imposing new tariffs on $300 billion of Chinese goods. Technology and financial services companies led the gains. Apple rose 1.8% while E-Trade gained 2.4%. Utilities lagged the market in a sign that Wall Street had a bigger appetite for risk. The S&P 500 rose 22 points, or 0.8%, to 2,964, topping the record set two weeks ago by 10 points. The Dow Jones rose 117 points, or 0.4%, to 26,717. The Nasdaq added 84 points, or 1.1%, to 8,091. The Russell 2000 index of smaller companies rose 0.2% to 1,569. (Read more stock market stories.)

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