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U.S. stocks leapt after China and the United States announced a
90-day truce in their trade war.
The S&P 500 jumped 3.3% Monday. The Dow Jones Industrial Average
rose more than 1,100 points, and the Nasdaq composite rallied
4.3%.
Hopes for an economy less encumbered by tariffs also sent crude
oil prices higher. The U.S. dollar strengthened against other
currencies, and Treasury yields jumped on expectations the
Federal Reserve won’t have to cut interest rates so deeply this
year in order to protect the economy.
Analysts warned conditions could still quickly change, as has so
often happened in President Donald Trump’s trade wars.
On Monday:
The S&P 500 rose 184.28 points, or 3.3%, to 5,844.19.
The Dow Jones Industrial Average rose 1,160.72 points, or 2.8%,
to 42,410.10.
The Nasdaq composite rose 779.43 points, or 4.3%, to 18,708.34.
The Russell 2000 index of smaller companies rose 69.12 points,
or 3.4%, to 2,092.20.
For the year:
The S&P 500 is down 37.44 points, or 0.6%.
The Dow is down 134.12 points, or 0.3%.
The Nasdaq is down 602.45 or 3.1%.
The Russell 2000 is down 137.96 points, or 6.2%.
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