published on May 21, 2018 - 1:11 PM
Written by Associated Press

(AP) — The latest on developments in financial markets (all times local):

4 p.m.
Signs of easing trade tensions between the U.S. and China sent stocks solidly higher on Wall Street, giving the Dow Jones industrial average its biggest gain in two weeks.

Technology and industrial companies led the way higher Monday.

Micron Technology jumped 3.9 percent after the chipmaker raised its profit and revenue forecasts.

General Electric rose 1.9 percent after reaching a deal to combine its train engine business with Westinghouse Air Brake Technologies.

The S&P 500 index rose 20 points, or 0.7 percent, to 2,733.

The Dow Jones industrial average climbed 298 points, or 1.2 percent, to 25,013. The Nasdaq composite increased 39 points, or 0.5 percent, to 7,394.

The yield on the 10-year Treasury note held steady at 3.06 percent.

11:45 a.m.
Stocks are solidly higher after the U.S. and China appeared to make progress in trade talks.

Industrial companies and banks made some of the biggest gains Monday. Boeing rose 3.3 percent and Bank of New York Mellon climbed 1.3 percent.

Treasury Secretary Steven Mnuchin says the U.S. postponed tariffs on China after the two sides made progress toward a trade agreement.

General Electric rose 2.6 percent after reaching a deal to combine its train engine business with Westinghouse Air Brake Technologies.

The S&P 500 index rose 15 points, or 0.6 percent, to 2,728.

The Dow Jones industrial average climbed 261 points, or 1.1 percent, to 24,977. The Nasdaq increased 30 points, or 0.4 percent, to 7,385.

The yield on the 10-year Treasury note held steady at 3.06 percent.

9:35 a.m.
Stocks are opening solidly higher on Wall Street after trade tensions between the U.S. and China dissipated.

Investors were relieved Monday to hear that Treasury Secretary Steven Mnuchin said the nations are “putting the trade war on hold” after Beijing agreed to buy more farm goods, energy and other products and services from the U.S.

General Electric rose 2.6 percent after reaching a deal to combine its train engine business with Westinghouse Air Brake Technologies.

The S&P 500 index rose 21 points, or 0.8 percent, to 2,734.

The Dow Jones industrial average climbed 283 points, or 1.2 percent, to 25,001. The Nasdaq composite increased 69 points, or 1 percent, to 7,424.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.07 percent.


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