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Post by bot on Dec 3, 2018 16:21:09 GMT -5
Dow logs 290-point gain after trade-war truce, but dip below 3% for 10-year reflects some caution
U.S. stocks finished sharply higher Monday after the market reacted optimistically to U.S. and China over the weekend calling a temporary truce to their trade dispute. The Dow Jones Industrial Average ended up about 290 points, or 1.1%, at 25,826, but had been up by as many as 442 points in early morning action. The S&P 500 index closed 1.1% higher at 2,790, powered by gains in the energy sector, on the back of a surge in crude-oil futures , while the consumer-discretionary sectors also was among the best performing sectors among the S&P 500's 11 on the day. The Nasdaq Composite Index advanced 1.5% at 7,442. However, the fall in the yield of the 10-year Treasury note to below 3% on Friday (bond prices rise and yields fall), may reflect some tepid concerns about the prospects for a firm agreement being achieved by China and the U.S. in the 90-day period from Jan. 1, and the outlook for the domestic economy as the Federal Reserve attempts to normalize interest rate policy.
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