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Tech Stocks Lead Rally on Wall Street after Huawei Breather
Tuesday, 21 May 2019 23:58 WIB | MARKET UPDATE |DOW JONESS & P 500Indeks NasdaqSahamAS

U.S. stocks rose on Tuesday, lifted by a rebound in technology stocks, as Washington's move to temporarily ease curbs on China's Huawei Technologies calmed nerves over a further worsening of a trade war between the two countries.

Chipmakers, which bore the brunt of Monday's sell-off, rose after the United States granted the Chinese telecoms equipment maker a license to buy U.S. goods until Aug. 19.

The Philadelphia Semiconductor Index gained 2.27% and was on track to end a three-day slump. Shares of Huawei suppliers such as Intel Corp, Qualcomm Inc, Xilinx Inc and Broadcom Inc rose between 2.4% and 4%.

The broader S&P 500 technology sector rose 1.33%, the most among the 10 major S&P sectors trading higher.

At 11:09 a.m. ET, the Dow Jones Industrial Average was up 155.07 points, or 0.60%, at 25,834.97. The S&P 500 was up 24.02 points, or 0.85%, at 2,864.25 and the Nasdaq Composite was up 83.46 points, or 1.08%, at 7,785.84.

Source : Reuters

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