Home / Stocks / US STOCKS-Wall St rallies on stimulus cheer, Apple leads tech gains

US STOCKS-Wall St rallies on stimulus cheer, Apple leads tech gains

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”(For a live blog on the U.S.

stock market, click or type LIVE/ in a news window.)” data-reactid=”16″>(For a live blog on the U.

S. stock market, click or type LIVE/ in a news window.

)

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=” Indexes up: Dow 1.10%, Samp;P 1.

16%, Nasdaq 1.45%” data-reactid=”17″> Indexes up: Dow 1.

10%, SP 1.16%, Nasdaq 1.

45%

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=” Interest-rate banks gain as U.S.

Treasury yields rise” data-reactid=”18″> Interest-rate banks gain as U.S.

Treasury yields rise

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=” Estee Lauder jumps after FY forecast raise (Updates to market open)” data-reactid=”19″> Estee Lauder jumps after FY forecast raise (Updates to market open)

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”By Medha Singh” data-reactid=”20″>By Medha Singh

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Aug 19 (Reuters) – U.S.

stocks surged on Monday on growing hopes that major economies would act to stymie the slowing economic effects of escalating global trade tensions, while technology stocks rose led by a nearly 3% gain in Apple’s shares.” data-reactid=”21″>Aug 19 (Reuters) – U.

S. stocks surged on Monday on growing hopes that major economies would act to stymie the slowing economic effects of escalating global trade tensions, while technology stocks rose led by a nearly 3% gain in Apple’s shares.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”China’s central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies, close on the heels of news of a potential German economic easing.” data-reactid=”22″>China’s central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies, close on the heels of news of a potential German economic easing.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”The rally was also helped by easing demand for safe-haven government bonds, with investors looking for bargains in beaten-down stocks after three weeks of declines. Rising bond yields gave a boost to rate-sensitive banks, sending the Samp;P 500 Banks index up 1.

55%.” data-reactid=”23″>The rally was also helped by easing demand for safe-haven government bonds, with investors looking for bargains in beaten-down stocks after three weeks of declines.

Rising bond yields gave a boost to rate-sensitive banks, sending the SP 500 Banks index up 1.55%.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”The yield curve is widening and people are starting to feel like its time to get back into stocks, especially after they’ve gotten cheaper in the past few weeks, said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York.” data-reactid=”24″>”The yield curve is widening and people are starting to feel like its time to get back into stocks, especially after they’ve gotten cheaper in the past few weeks,” said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Traders will be split on direction for the next few weeks as they balance trade risks and signs of slowing growth with the potential for more action from the U.S.

Federal Reserve and others in September.” data-reactid=”25″>Traders will be split on direction for the next few weeks as they balance trade risks and signs of slowing growth with the potential for more action from the U.

S. Federal Reserve and others in September.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”The focus this week will be on Wednesday’s release of minutes from the Fed’s July policy meeting, when the central bank cut rates for the first time in more than a decade, and Chair Jerome Powell’s speech at a central banks meeting in Jackson Hole on Friday.” data-reactid=”26″>The focus this week will be on Wednesday’s release of minutes from the Fed’s July policy meeting, when the central bank cut rates for the first time in more than a decade, and Chair Jerome Powell’s speech at a central banks meeting in Jackson Hole on Friday.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”The Street is going to be hopeful that the Fed will take away the ‘mid-cycle’ comment on rate cuts, which we all know is going to be coming, Pavlik said.” data-reactid=”27″>”The Street is going to be hopeful that the Fed will take away the ‘mid-cycle’ comment on rate cuts, which we all know is going to be coming,” Pavlik said.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Shares of Apple Inc provided the biggest boost to the three main Wall Street indexes. President Donald Trump said on Sunday that he had spoken with Apple Chief Executive Tim Cook about the impact of U.

S. tariffs.

” data-reactid=”28″>Shares of Apple Inc provided the biggest boost to the three main Wall Street indexes. President Donald Trump said on Sunday that he had spoken with Apple Chief Executive Tim Cook about the impact of U.

S. tariffs.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Chipmakers, which depend on China for a large portion of their revenue, also gained with the Philadelphia chip index up 2.46%.

” data-reactid=”29″>Chipmakers, which depend on China for a large portion of their revenue, also gained with the Philadelphia chip index up 2.46%.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”U.S.

Commerce Secretary Wilbur Ross said Monday the U.S.

government will extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from U.S.

companies so that it can service existing customers, even as nearly 50 of its units were being added to a U.S.

economic blacklist.” data-reactid=”30″>U.

S. Commerce Secretary Wilbur Ross said Monday the U.

S. government will extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from U.

S. companies so that it can service existing customers, even as nearly 50 of its units were being added to a U.

S. economic blacklist.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”At 9:45 a.m.

ET, the Dow Jones Industrial Average was up 284.13 points, or 1.

10%, at 26,170.14, the Samp;P 500 was up 33.

43 points, or 1.16%, at 2,922.

11. The Nasdaq Composite was up 114.

49 points, or 1.45%, at 8,010.

49.” data-reactid=”31″>At 9:45 a.

m. ET, the Dow Jones Industrial Average was up 284.

13 points, or 1.10%, at 26,170.

14, the SP 500 was up 33.43 points, or 1.

16%, at 2,922.11.

The Nasdaq Composite was up 114.49 points, or 1.

45%, at 8,010.49.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”All of the 11 major Samp;P sectors were higher with a 1.67% rise in technology sector leading gainers.

” data-reactid=”32″>All of the 11 major SP sectors were higher with a 1.67% rise in technology sector leading gainers.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Estee Lauder Cos Inc jumped 9.3% as it forecast full-year revenue and profit above estimates, bolstered by booming demand for its premium skincare products and strength in its Asia-Pacific business.

” data-reactid=”33″>Estee Lauder Cos Inc jumped 9.3% as it forecast full-year revenue and profit above estimates, bolstered by booming demand for its premium skincare products and strength in its Asia-Pacific business.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Advancing issues outnumbered decliners by a 4.36-to-1 ratio on the NYSE and by a 3.

97-to-1 ratio on the Nasdaq.” data-reactid=”34″>Advancing issues outnumbered decliners by a 4.

36-to-1 ratio on the NYSE and by a 3.97-to-1 ratio on the Nasdaq.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”The Samp;P index recorded 28 new 52-week highs and no new low, while the Nasdaq recorded 44 new highs and 13 new lows. (Reporting by Medha Singh and Shreyashi Sanyal in Bengaluru Editing by Saumyadeb Chakrabarty)” data-reactid=”35″>The SP index recorded 28 new 52-week highs and no new low, while the Nasdaq recorded 44 new highs and 13 new lows.

(Reporting by Medha Singh and Shreyashi Sanyal in Bengaluru Editing by Saumyadeb Chakrabarty)

.