Investing.com – Wall Street rose on Monday on news of upbeat Chinese data and reports of trade talk progress.
The gained 152 points or 0.6% by 9:44 AM ET (13:44 GMT) while the rose 18 points or 0.7% and tech-heavy was up 60 points or 0.8%.
Overnight data showed that China’s Caixin manufacturing purchasing managers’ index, which gauges private-sector activity, increased the most in a month since 2012. Meanwhile, China has said it will extend its suspension of tariffs on U.S.-made autos and include the opioid fentanyl in a list of controlled substances, increasing the chance of progress between the two largest economies in the world as trade talks talks continue in Washington this week.
Investors seemed unmoved by U.S. data showing that unexpectedly fell in February, as earlier boost from tax cuts and government spending has waned.
Semiconductor companies gained after the opening bell, with Advanced Micro Devices (NASDAQ:) up 2.8% and Micron (NASDAQ:) rising 2.1%. Tesla (NASDAQ:) stock was lifted 1.1%, as Facebook (NASDAQ:) inched up 0.8%.
Southwest Airlines (NYSE:) and other airline companies rose up slightly even as the companies faced a system-wide outage and delays to flights.
Elsewhere, Kellogg Company (NYSE:)fell 0.6% on news that it is selling selected cookies, fruit snacks and ice cream products to Ferrero Group for $1.3 billion.
In commodities, rose 0.1% to $1,300.25 a troy ounce while jumped 0.8% to $60.62 a barrel. The , which measures the greenback against a basket of six major currencies, lost 0.2% to 96.635.
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