Dow Jones Industrial Average Gives Back Some Gains From Trade War Truce – Barron's

Illustration by Michael George Haddad

A Trade War Thaw. U.S. stocks were still higher on Monday, but they had given back some of the early gains powered by this weekend’s truce in the trade war between the U.S. and China.

The Dow Jones Industrial Average was up 0.5% shortly after midday, while the S&P 500 0.8% and the Nasdaq Composite was up 1.2%. The Dow and the S&P had both hit record intraday highs on Monday morning.

Midday Movers

Apple stock (ticker: APPL) was up 2.1% to $202.11 as a host of tech stocks gained after the U.S. signaled it would ease restrictions on U.S. companies doing business with Chinese tech giant Huawei as part of the trade war truce.

Wynn Resorts stock (WYNN) was up 6.9% to $132.55 after Macau’s gaming authority reported that June gambling revenues were up 5.9%, more than expected.

Semiconductor stocks were in the green on the trade news. Skyworks Solutions stock (ticker: SWKS) was up 6.2% to 82.05, Qorvo stock (QRVO) was up 5.5% to 70.43, and Micron stock (MU) was up 5% to $40.40.

Coty stock (COTY) was down 14.4% to $11.47 after the cosmetics company unveiled a turnaround plan and said it would take a $3 billion writedown.

Write to Ben Walsh at [email protected]

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