U.S. stocks rally amid eased U.S.-China trade tensions

Updated 2018-05-22 09:46:02 Xinhua

Traders work at the New York Stock Exchange in New York, the United States, on May 21, 2018. U.S. stocks closed higher on Monday. (Xinhua/Wang Ying)

U.S. stocks closed higher on Monday as easing U.S.-China trade tensions fueled optimism in the market.

The Dow rose 1.21 percent to 25,013.29, and the S&P 500 rose 0.74 percent to 2,733.01, while the Nasdaq increased 0.54 percent to 7,394.04.

China and the United States issued a joint statement over the weekend, vowing not to launch a trade war against each other.

U.S. Treasury Secretary Steven Mnuchin said on Sunday that the United States and China have reached a deal on a "very important" framework concerning their economic and trade ties, and the two sides have agreed to put a possible trade war on hold.

He added that the two sides will continue with their communications on trade issues.

Analysts noted that easing U.S.-China trade tensions will likely help chipmakers' stocks the most.

Meanwhile, the strong dollar is a stock-market drag and may pose a threat to earnings growth, experts said.

On the economic front, led by improvements in production-related indicators, the Chicago Fed National Activity Index rose from 0.32 in March to 0.34 in April, beating market consensus.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58November 19 2018 06:30:22

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16November 19 2018 06:30:22

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18November 19 2018 06:30:22

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords