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Share Name | Share Symbol | Market | Type |
---|---|---|---|
NVIDIA Corporation | NASDAQ:NVDA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.07 | 0.78% | 138.00 | 137.98 | 138.00 | 138.90 | 137.28 | 138.58 | 175,794,499 | 01:00:00 |
By Akane Otani
Shares of companies sensitive to U.S.-China trade policy are rallying on hopes that the two countries may be nearing an agreement.
The S&P 500 climbed 0.8% Thursday after President Trump said a trade deal with China was close, and The Wall Street Journal reported U.S. negotiators had offered to cancel fresh tariffs on Chinese goods that were set to take place Sunday.
A few categories of stocks got an even bigger boost.
Wynn Resorts Ltd. and Las Vegas Sands Corp. rose 7% and 3.9%, respectively. The casino operators both operate resorts in Macau, a semiautonomous region of China, making them sensitive to Washington and Beijing's trade rift.
Chemicals companies also jumped. Shares of Dow Inc., which makes chemical products used in industries ranging from agriculture to consumer goods, added 2%. The company had cut its full-year spending forecast over the summer, citing the prolonged U.S.-China trade fight.
Another group getting a boost Thursday: industrial stocks. One of the key snags in the U.S. and China's trade negotiations over the past few months has been disagreement over the level of farm purchases China should make from the U.S. A trade deal that clears the picture there stands to benefit farms and the companies that make equipment for them. Deere & Co., which manufactures equipment for farmers, along with construction companies, rose 1.2%. Caterpillar Inc. advanced 1.7%.
Semiconductor firms, whose profits rely in part on demand from China, also outperformed the broader market. Shares of Nvidia Corp. added 1.7%, while Micron Technology Inc. rose 3%.
Write to Akane Otani at akane.otani@wsj.com
(END) Dow Jones Newswires
December 12, 2019 11:44 ET (16:44 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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