Stocks close sharply higher on US-China trade truce [MSN Money]
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Source: MSN Money
Stocks ended sharply higher Monday after President Donald Trump and Chinese President Xi Jinping agreed to a 90-day cease-fire in the trade war that has weighed heavily on global stock markets for most of 2018. Load Error The Dow rose 287 points, while the S&P 500 gained 1.1 percent. The Nasdaq added 1.5 percent. The consumer discretionary sector in the S&P 500 was the best performer, rising 2.5 percent. Amazon and Apple rose 4.9 percent and 3.5 percent, respectively. Stocks came off their highs in midmorning trading, however. At its high of the day, the Dow had risen nearly 442 points. I don't know why the market rallied on that news, said Bruce Bittles, a chief investment strategist at Baird. Does it solve any of the long-term issues? I don't think so. That's one hurdle the market has to deal with. I can see why the market would be happy that some of the pressure was taken off, but to surge this much? Bittles said, adding China and the U.S. have yet to address is
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