Dow surges 1,100 points and the NASDAQ soars
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Shares of technology companies rallied after a truce in the trade war alleviated fears of rising costs and shrinking markets. Shares of Apple, which counts China as both a manufacturing partner and major growth market, rose by more than 5%. Amazon.com, whose budget offerings are often Chinese imports, rose by roughly 8%.
Shares have logged modest gains in most world markets as the initial euphoria over the 90-day truce in the trade war between the United States and China fades
US stocks surge today after a U.S.-China tariff truce. Dow, S&P500, and Nasdaq rally sharply with Apple, Caterpillar, and Chevron leading the rebound.
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All told, the S&P 500 rose 184.28 points to 5,844.19. The Dow Jones Industrial Average gained 1,160.72 to 42,410.10, and the Nasdaq composite leaped 779.43 to 18,708.34.