After facing its worst week in two years, Wall Street came roaring back Monday, with the Dow Jones industrial average posting its third-largest point gain ever. The S&P 500, after all, did post its best day since 2015, climbing 2.7% as China offered to buy more US semiconductors to lessen the trade surplus-a move markets considered as willingness to sidestep a full out trade war.
The report that Beijing plans to announce retaliatory tariffs against U.S. President Donald Trump's plans for tariffs on up to $60 billion of Chinese goods was also rekindling worries about a Sino-U.S. trade war. The stock market, which plunged last week amid fears of a trade war between the United States and China, rebounded up 2.85 percent, to close at 24,203.
Meanwhile, the tech-heavy Nasdaq 100 Index is higher by 1 percent in the three months, while the S&P 500 Index has fallen 2.2 percent - the most since mid-2015. After a relatively straightforward climb without so much as a bump in the road in 2017, both the Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) have hit a rough patch in 2018. The S&P 500 was up 28.83 points, or 1.11 percent and the Nasdaq Composite rose 84.60 points, or 1.22 percent.
GameStop shares fell 10.8 percent after the company provided disappointing full-year sales forecast.
USA stocks jumped on Thursday as technology shares bounced back from a sharp selloff ahead of a long weekend that marks the end of a turbulent quarter for Wall Street. The Nasdaq slid 59 points, or 0.8 percent, to 6,949.
In order to understand how best to deal with a stock market correction as a long-term investor, it's important to first recognize what we'll never know about corrections. Microsoft rose $6.60, or 7.6 percent, to $93.78. That announcement followed a news report indicating that USA officials have submitted a list of market-opening requests. When bond yields decline it can bring down interest rates on mortgages and other loans, making them less profitable for banks.
"The question on everyone's mind is: Is this an "ice cube" or the tip of an iceberg", Ethan Harris, the head of global economics research at Bank of America Merrill Lynch, wrote in a client note Friday.
Melania Trump's reaction on Stormy Daniels interview: FLOTUS focused on son
Cooper asked Daniels, whose real name is Stephanie Clifford, if Trump had mentioned Melania or Barron, who was born in March 2006. Although her response seemed subtle to NBC, the spokeswoman lashed out at the media on Twitter .
ON THE WAY OUT: Lowe's climbed 5.3 percent after the home-improvement retailer said Chairman and CEO Robert Niblock is retiring. The stock gained $5.53 to $89.30.
Asia tumbled 1.5 percent overnight, with Japan's Nikkei ending down 1.3 per cent and top Chinese internet stock Tencent down 4.6 per cent.
Finish Line vaulted 3.21 dollars, or 30.4%, to 13.76 dollars after the sporting goods retailer agreed to be bought by JD Sports Fashion.
ENERGY: Benchmark U.S. crude added 17 cents to $65.72 a barrel in electronic trading on the New York Mercantile Exchange.
MARKETS OVERSEAS: In Europe, Germany's DAX fell 0.8 percent, while France's CAC-40 lost 0.6 percent. Brent crude, used to price global oils, shed 37 cents to $69.44 in London.
The greenback bounced 106.13 yen having earlier been changing hands at 105.51 yen JPY= which was not far from Monday's 16-1/2-month low of 104.56. South Korea's Kospi rose 0.6 percent. The euro strengthened to $1.2437 from $1.2367.