The US indexes closed Monday trading session with growth, hoping to reassure trade pressure between the two largest economies in the world, the United States and China. The blue-chip Dow Jones grew by 68.24 points, with UnitedHealth and Walmart being the best-performing stocks in the index. Thus, the index, consisting of 30 companies, recorded its eighth winning session.
The S&P 500 rose by 0.1% and closed at 2,730.13 points, with energy, health and resource makers increasing most. The technological Nasdaq Composite expanded by 0.1% and ended at 7,411.32 points.
On Sunday, the US President Donald Trump pledged to help the Chinese technology company ZTE to “get back into business quickly” after US sanctions hurt the Asian company significantly. Trump’s tweet on Sunday came before the second round of US-China trade talks this week. The representatives of both sides seek to find a way to resolve the trade dispute, although Beijing has already said it will not change its current position in the coming days.
Producers of optical components posted increases in stock prices after ZTE news, with Oclaro, Lumentum and Finisar rising 2.9%, 2.2% and 1% respectively. Acacia Communications also grew by 8.7%.
The chip maker stocks also posted a price jump on Monday after a report suggesting that Chinese regulators will re-examine the proposed acquisition of Qualcomm’s NXP Semiconductors. NXP’s share price rose by 11.9% and Qualcomm added 2.7% to its value. Vaneck Vectors Semiconductor’s stock rose 1.7% after the news.