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Dow surges 669, clawing back lost ground

28 March 2018

The S&P 500 climbed 3 points, or 0.2 percent, to 2,663.

Investors were encouraged by signs that the USA and China are open to negotiating to avert a trade dispute.

US stocks spent most of the day like a well-made cocktail: mixed but not too strong. The Nasdaq composite rose 227.88, or 3.26%, to 7,220.54, while the S&P 500 Index gained 70.29, or 2.72%, to 2,658.55. Wholesale gasoline lost 2 cents to $2.01 a gallon. The only bigger point gains on record were in October 2008, during the financial crisis.

New York Launches Lawsuit to Remove Citizenship Query From US Census
An aide to Healey said she already meant to join a multi-state lawsuit, led by the NY attorney general Eric Schneiderman. Democratic lawmakers had been bracing for the decision, making a point to question Ross during congressional hearings.

Technology companies recouped some of the sector's big losses last week.

"We're having very productive conversations with them", Mnuchin said on Fox News Sunday, referring to China dialogue.

Investors were encouraged by the discussions. That prompted fears the spat might depress trade worldwide and set back the global economic recovery. "A sharp V recovery may not be all that surprising". Last week's drop was fuelled in part by tensions surrounding US President Donald Trump's move to levy tariffs on up to 60 billion United States dollars of Chinese imports, in addition to those imposed on solar panels, steel and aluminium.

Ready for take-off: Qantas launches first non-stop flight between Europe and Australia
An airline spokesman said there were markets for both types of flights with price, timing and connections among the factors. Airline Chief Executive Alan Joyce hailed the development as a "game-changer".

The Dow plummeted more than 1,100 points on Thursday and Friday, slipping into a correction - a decline of 10% from the index's all-time high in January. The tech-rich Nasdaq fared even worse than the Dow and S&P 500, with Facebook ( FB ) shares under mounting pressure amid reports CEO Mark Zuckerberg agreed to testify in front of Congress. On Friday, Beijing released a $3 billion list of US goods targeted for possible retaliation over an earlier USA tariff hike on steel and aluminum imports.

John Lynch, chief Investment strategist for LPL Financial, believes trade tensions could flare in the coming months, but the long-term risks to the market remain in check. Twitter slumped 12 percent after Citron Research said it is shorting the company, citing Twitter's reliance on licensing its users' data. Retailers, consumer goods companies and health care stocks were among the big gainers. Among the most notable decliners on Tuesday, Microsoft Corp. Last week, the 10-year yield fell sharply to 2.81% last week as investors sought safe haven from volatile stocks. Prices dipped ahead of an anticipated rise in USA weekly crude inventories tomorrow.

Argentina coach Sampaoli tribute to Barcelona star Messi
Messi is poised to return for Wednesday's global friendly against Spain after sitting out last week's 2-0 victory over Italy . Dybala has to be pleased as he might participate in this summer's World Cup with Argentina after all.

Dow surges 669, clawing back lost ground