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Stocks are closing higher on Wall Street Tuesday as technology companies lead solid gains across the market.
Chipmakers rallied after the U.S. government issued a 90-day grace period on its order to restrict U.S. firms from selling to Chinese telecom gear maker Huawei. Micron Technology rose 2.9%.
Apple rose 2% and Boeing gained 1.7% to boost the Dow Jones Industrial Average.
Quarterly reports from two department stores disappointed investors. J.C. Penney fell 7% after reporting a wider than expected quarterly loss, while Kohl’s sank 12.3% after cutting its outlook for fiscal 2020.
The S&P 500 index rose 24 points, or 0.9%, to 2,864.
The Dow gained 197 points, or 0.8%, to 25,877. The Nasdaq added 83 points, or 1.1%, to 7,785.
The yield on the 10 year Treasury rose to 2.43%.
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