Day Traders Diary
Stocks closed higher on Tuesday following news that the U.S. temporarily eased restrictions on Chinese telecom giant Huawei. The Dow Jones Industrial Average finished up 197 points at 25,877. The S&P 500 gained 0.9% while the Nasdaq Composite advanced 1.1%. The semiconductor sector rebounded over 2% after declining 6% last week. Chipmakers Micron Technology rose 3% while Xilinx gained 4.6%.
The Commerce Department said Monday night it would allow Huawei to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets until Aug. 19. The move sought to minimize disruption for the telecom company's customers around the world.
Boeing rose nearly 2% after the Wall Street Journal reported that a bird collision may have caused one of the 737 Max crashes.
In the retail space, Kohls dropped 12% after missing earnings and lowering guidance. Nordstrom is dropping after-hours after missing the top line and bottom line.All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.