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Wall Street Starts To Bounce Back

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According to Reuters, U.S. stocks moved higher on Tuesday, led by a strong rebound in trade-sensitive chipmakers after Washington cut off a Chinese semiconductor maker from its U.S. suppliers. The Commerce Department slapped the restriction on Fujian Jinhua Integrated Circuit Co Ltd amid allegations the firm stole intellectual property from Micron Technology Inc and on concerns the firm could flood the market with cheap chips. Micron rose 1.4 percent, and helped the Philadelphia Semiconductor Index jump 2.50 percent, rebounding after hitting its lowest in over a year on Monday. The broader technology sector was up 0.42 percent. Industrial stocks rose 0.73 percent, getting a boost after President Donald Trump said “a great deal” on trade can be struck with China.

Added on the 30/10/2018 12:16:03 - Copyright : Wochit

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