Markets Right Now: Stocks rise after tariff hike postponed

NEW YORK – The latest on developments in financial markets (all times local):

4 p.m.

Stocks are closing higher on Wall Street after President Donald Trump held off on raising tariffs on Chinese imports, but gave up much of their gains from earlier in the day.

Technology companies and banks led the way higher Monday. Cisco Systems rose 1.4 per cent.

General Electric jumped 6.4 per cent after agreeing to sell a biotech business to Danaher for $21.4 billion.

The S&P 500 rose 3 points, or 0.1 per cent, to 2,796. The index has risen for the past four weeks in a row.

The Dow Jones Industrial Average rose 60 points, or 0.2 per cent, to 26,091. It was up 209 earlier.

The Nasdaq added 26 points, or 0.4 per cent, to 7,554.

Bond prices fell. The yield on the 10-year Treasury rose to 2.67 per cent.

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11:45 a.m.

Stocks are moving broadly higher on Wall Street after President Donald Trump agreed to hold off on raising tariffs on Chinese imports as trade talks progress.

Technology companies led the way higher Monday. Apple rose 1.4 per cent.

General Electric jumped 8.9 per cent after agreeing to sell a biotech business to Danaher for $21.4 billion.

Sparks Therapeutics more than doubled after pharmaceutical giant Roche offered to by the gene therapy company.

The S&P 500 index rose 18 points, or 0.6 per cent, to 2,810.

The Dow Jones Industrial Average rose 190 points, or 0.7 per cent, to 26,221. The Nasdaq added 68 points, or 0.9 per cent, to 7,595.

Asian stocks also rose sharply.

Bond prices fell. The yield on the 10-year Treasury rose to 2.68 per cent.

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9:35 a.m.

Stocks are opening broadly higher on Wall Street after President Donald Trump agreed to hold off on raising tariffs on Chinese imports as trade talks progress.

Technology and industrial companies led the way higher early Monday.

General Electric jumped 14.8 per cent after agreeing to sell a biotech business to Danaher for $21.4 billion as the once-sprawling conglomerate continues to slim down.

The S&P 500 index rose 16 points, or 0.6 per cent, to 2,809.

The Dow Jones Industrial Average rose 173 points, or 0.7 per cent, to 26,205. The Nasdaq added 65 points, or 0.9 per cent, to 7,594.

Bond prices fell. The yield on the 10-year Treasury rose to 2.68 per cent.