US stocks close higher amid trade hopes, mixed data
“All of the 30 blue-chip stocks in the Dow extended gains around market close, with shares of Apple rallying 1.9 %, leading the gainers.”
stocks closed higher on Monday, kicking off the week in an upbeat note, as investors remained hopeful for the possible easing of US-China trade dispute and digested mixed data that point to tepid US manufacturing activities.The Dow Jones Industrial Average increased 269.93 points, or 1.05 %, to 25,898.83. The S&P 500 rose 31.27 points, or 1.10 %, to 2,878.38, Xinhua news agency reported.
The Nasdaq Composite Index was up 101.97 points, or 1.32 %, to 7,853.74.All of the 30 blue-chip stocks in the Dow extended gains around market close, with shares of Apple rallying 1.9 %, leading the gainers Shares of widely-seen trade bellwethers Intel and Cisco Systems rose over 1.33 % and over 1.05 %, respectively, among the best performers.
Semiconductor stocks, also sensitive to US-China trade relations, jumped around market close, with the Philadelphia Semiconductor Index up 0.86 %.Ten of the 11 primary S&P 500 sectors traded higher around market close, with the communication services up nearly 1.1 %, leading the advancers.
The US academic, business and financial communities have all voiced hopes over the weekend that the two sides could go back to the negotiating table and resume sincere conversations in concerted efforts to ease the long-lasting tensions.
On the economic front, US durable goods orders rose 2.1 % in July, reaching $250.4 billion, the Department of Commerce said on Monday.However, shipments of manufactured durable goods in July declined 1.1 % to reach $254.0 billion, following a 1 % growth in June.