added 214.66 points to close at 25,862.68. The S&P 500 rose 0.9% to finish its trading day at 2,876.32, while the Nasdaq Composite closed 1% higher at 7,898.05.
The gains stateside came on the back of better-than-expected earnings and U.S. economic data. Housing starts for April topped expectations while weekly jobless claims dropped more than expected.Investors had largely priced in the two economic powerhouses to reach a deal this month. Instead, the U.S. hiked tariffs on $200 billion worth of Chinese imports. China retaliated with higher tariffs on $60 billion worth of goods.
To exacerbate matters, U.S. President Donald Trump declared on Wednesday a national emergency over threats against American technology. In addition, the U.S. Department of Commerce and its affiliates to the Bureau of Industry and Security Entity List, making it more difficult for the Chinese telecom giant to conduct business with U.S. companies., which tracks the greenback against a basket of its peers, was at 97.855 after bouncing from levels below 97.5 yesterday.
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