Wall Street rises as Huawei reprieve boosts tech shares via ReutersTV
NEW YORK - Shares of technology companies helped lift Wall Street on Tuesday after the United States temporarily eased curbs on China’s Huawei Technologies Co Ltd, alleviating investor concerns about pressure on future corporate results in the sector.
Shares of Huawei suppliers such as Intel Corp, Qualcomm Inc, Xilinx Inc and Broadcom Inc rose between 1% and 4.6%. The Dow Jones Industrial Average rose 197.43 points, or 0.77%, to 25,877.33, the S&P 500 gained 24.13 points, or 0.85%, to 2,864.36 and the Nasdaq Composite added 83.35 points, or 1.08%, to 7,785.72.
Kohl’s shares dropped 12.3%, the largest decline among S&P 500 companies, after the retailer cut its full-year profit forecast and reported quarterly same-store sales and profit that missed expectations. Traders work on the floor at the New York Stock Exchange in New York, U.S., May 20, 2019. REUTERS/Brendan McDermid
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