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US stocks rise amid trade hopes

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NEW YORK, Feb. 5, 2018 (Xinhua) -- A trader works at the New York Stock Exchange in New York, the United States, on Feb. 5, 2018. U.S. stocks closed sharply lower on Monday, with the Dow plummeting 4.60 percent, as the market took a heavy hit from panic sales. (Xinhua/Wang Ying/IANS) by .
A trader works at the New York Stock Exchange in New York, the United States.

US stocks closed higher, regaining some of the ground it lost in a rout in the previous session, as Wall Street reignited hopes for de-escalation of global trade tensions…reports Asian Lite News

NEW YORK, Feb. 5, 2018 (Xinhua) -- A trader works at the New York Stock Exchange in New York, the United States, on Feb. 5, 2018. U.S. stocks closed sharply lower on Monday, with the Dow plummeting 4.60 percent, as the market took a heavy hit from panic sales. (Xinhua/Wang Ying/IANS) by .
A trader works at the New York Stock Exchange in New York, the United States.

The Dow Jones Industrial Average rose 95.22 points, or 0.37 per cent, to 25,585.69. The S&P 500 increased 3.82 points, or 0.14 per cent, to 2,826.06. The Nasdaq Composite Index climbed 8.72 points, or 0.11 per cent, to 7,637.01.

Nine of the 11 primary S&P 500 sectors ended higher, with financials and materials up 0.77 per cent and 0.50 per cent, outpacing the rest. Consumer staples declined 0.40 per cent, the worst-performing group. Utilities also struggled.

Trade bellwether Boeing stock gained 1.24 per cent, leading the advancers in the Dow. Caterpillar, another trade-sensitive stock, closed up 0.52 per cent.

On the economic front, new orders for US manufactured durable goods decreased 2.1 per cent in April to 248.4 billion dollars, following a 1.7-per cent March increase, the Department of Commerce reported Friday. Economists surveyed by MarketWatch had forecast a 2.4-per cent April decline in new orders.

US equities tumbled on Thursday amid a steep sell-off in tech and energy shares.

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