Stocks celebrate phase one trade deal with record highs
Manufacturing, tech giants come up winners
U.S. stocks tagged record highs during a signing ceremony for the historic phase one trade deal between the U.S. and China.
All three of the major averages were trading in record territory with the Dow Jones Industrial Average leading the advance.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SP500 | S&P 500 | 6047.15 | +14.77 | +0.24% |
| I:DJI | DOW JONES AVERAGES | 44782 | -128.65 | -0.29% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19403.947849 | +185.78 | +0.97% |
“This officially removes an overhang that has plagued technology names for the last year, with the poster child Apple and semiconductor stocks front and center,” wrote Dan Ives, managing director at the Los Angeles-based investment bank Wedbush Securities.
Big-tech names like the iPhone maker as well as Microsoft and Alphabet, Google's parent, all jumped on the news.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 237.33 | +2.40 | +1.02% |
| MSFT | MICROSOFT CORP. | 423.46 | +0.47 | +0.11% |
| GOOGL | ALPHABET INC. | 168.95 | -0.28 | -0.17% |
Chipmakers AMD, Qualcomm and Texas Instruments fell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMD | ADVANCED MICRO DEVICES INC. | 137.18 | +0.94 | +0.69% |
| QCOM | QUALCOMM INC. | 158.53 | +2.13 | +1.36% |
| TXN | TEXAS INSTRUMENTS INCORPORATED | 201.03 | +1.84 | +0.92% |
As did the Chinese companies traded in the U.S. like Alibaba, JD.com and Weibo.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BABA | ALIBABA GROUP HOLDING LTD. | 85.69 | -1.69 | -1.93% |
| JD | JD.COM INC. | 37.38 | +0.19 | +0.51% |
| WB | WEIBO CORP. | 9.60 | +0.14 | +1.48% |
The trade-sensitive names Boeing, Caterpillar and United Technologies were mixed.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 155.44 | +3.04 | +1.99% |
| CAT | CATERPILLAR INC. | 406.11 | +2.41 | +0.60% |
| UTX | NO DATA AVAILABLE | - | - | - |
“While the tariff issue in the near-term is removed and a dark cloud is cleared, now the focus shifts to the details and roadmap for a phase two deal and the specifics around IP protection and other forced technology-transfer issues which make this a murky situation,” Ives said.