published on May 21, 2019 - 1:24 PM
Written by Associated Press

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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