US stocks close sharply higher on US China tariff news


The major US stock indices are sharply higher on US/China tariff news. Over the weekend the US slashed tariffs for the next 90-days on China goods from 145% to 30% inclusive of a 20% tariff due to fentanyl. The news led to sharp buying which did not abate. The broader S&P and Nasdaq indices had their 2nd best days going back to 2022.

The final numbers are showing:

  • Dow industrial average rose 1160.7 2.2 or 2.81% to 42,410.10. That was the second-best day going back to November 6, 2024.
  • S&P index rose 184.28 points or 3.26% at 5844.19. That was the 2nd-best % day going back to November 10.
  • NASDAQ index rose 779.43 points or 4.35% at 18708.34. That was the second-best day since November 30.
  • The Russell 2000 rose 16.12 points or 3.42% at 2092.19. For that index, it was a second-best day since November 6, 2024

Some of the bigger winners today included:

  • Shopify Inc +13.71%

  • First Solar +11.07%

  • Block +9.29%

  • Lam Research +9.18%

  • Amazon.com +8.09%

  • Meta Platforms +7.92%

  • Arm +7.77%

  • Micron +7.49%

  • Papa John’s +7.26%

  • Gilead +7.12%

  • FedEx +6.94%

  • Tesla +6.82%

Looking at some of the other leading gainers:

  • Alphabet +3.74%
  • Microsoft, +2.40%
  • Nvidia, + 5.44%
  • Nike +7.34%
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