NEW YORK - U.S. stocks on Tuesday reclaimed some of the ground lost in the prior day’s steep sell-off, with tariff-sensitive technology stocks leading the S&P 500 and the Nasdaq higher as investors were heartened by a tonal shift in U.S.-China trade rhetoric.
Investors’ nerves were calmed after U.S. President Donald Trump referred to the escalating trade war with China as “a little squabble,” and added, “We have a good dialogue going.” “I assume a lot of people still take the president seriously when he makes these comments,” Bell added. “There’s still strong support for his policies and people want to believe what he’s saying, that it’s going to end well.”
Uber Technologies and ride-hailing rival Lyft Inc reversed course after their post-debut slides. Their stocks advanced 7.7% and 4.9%, respectively. Of the 11 major sectors of the S&P 500, all but utilities closed in the black. Technology stocks posted the largest percentage gains, climbing 1.6%.
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Anyone else think Trump's China talk is designed to shape the market so that Trump and Co. can make some quick cash? We will never know.
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