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Wall Street Rises on Hopes for Trade, Iran Deals By Investing.com



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Investing.com – Shares rose on Monday, a relief for traders and investors around the world.

What is not clear is whether Monday's rally was simply a setback from Friday's wild downturn or something more meaningful.

It will take you some time to arrange. Rise rose 1.1% thanks to late purchases. Up, 1% on the day, or 271 points, had been up as much as 312 points, or 1.2% right after opening.

With many technology companies directly affected by the ongoing US trade struggle, it was up 1

.3%. And we will note that the index was up 1.47%, thanks to the late surge. Its leader was Jd.Com (NASDAQ :), up 3.4%. It is an online retailer in China.

Interest rates rose modestly.

The catalyst of the rally was President Donald Trump. First, he said that China was willing to make a trade agreement, and he said he would be willing to meet Iran's president if conditions were right.

There was good news for traders and the algorithms that govern many markets. All 30 stocks were higher, along with 94 Nasdaq-100 stocks. The Dow leaders included Nike (NYSE :), Walt Disney (NYSE :), and Apple (NASDAQ :). All three have huge stakes in China, and Disney gets a boost as it approaches the launch of its steamy video service in November.

Hasbro (NASDAQ 🙂 jumped about 3%, fourth among stocks, because many of the toys it sells are made in China.

Celgene (NASDAQ 🙂 and Amgen (NASDAQ 🙂 were second and third among stocks, increasing more than 3%. Amgen wants to buy Celgen's psoriasis drug Otezla for $ 13.5 billion in cash. And Celgene is one step closer to merging with Bristol-Myers Squibb (NYSE 🙂 in a $ 74 billion deal.

After the close, Johnson & Johnson (NYSE 🙂 was up more than 5.2% after an Oklahoma federal judge found the company responsible for the opioid crisis fuel in this state. He ordered the company to pay $ 572 million in damages in a case in which the state had asked drug companies to pay up to $ 17 billion in damages. Two other companies came out of court. About 2000 cases are awaiting trial against pharmaceutical companies.

Johnson & Johnson had been up 0.8% in ordinary trading, but somewhat down the year before the decision was announced.

While retailers such as Macy's (NYSE 🙂 and Gap (NYSE 🙂 were weak, Foot Locker (NYSE 🙂 led it, followed by the oil and chemical company TechnipFMC (NYSE 🙂 , DISH Network (NASDAQ 🙂 and telecommunications company [19659010] CenturyLink (NYSE :). The S&P 500 laggards included Philip Morris International (NYSE :), women's clothing company L Brands (NYSE :), Gap and Alexion Pharmaceuticals (NASDAQ :).

Yield increased to 1.537% from Friday's 1.527%, but it remains at 42% this year.

Oil prices fell due to the possibility of thawing in the US and Iran. The West Texas Intermediate, the benchmark index, fell 53 cents to $ 53.64 a barrel. The November contract for the global crude oil portfolio was $ 68 for $ 58.12. was a little down to $ 1,537.20 for an ounce in New York.

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