US equities rallied on Monday as concerns about trade disputes between the US and China abated. Over the weekend, President Trump tweeted that he is helping Chinese tech firm ZTE Corp “get back into business, fast” after the company was hurt by US sanctions.
Large caps bested small caps: S&P 500 (+0.09%) vs. Russell 2000 (-0.40%). Health care (+0.65%) and energy (+0.63%) outperformed the broader market indices, while real estate (-0.72%) and utilities (-0.44%) lagged. UnitedHealth (+1.94%) and Walmart (+1.21%) helped the Dow (+0.27%) end higher; Travelers (-0.95%) and Johnson & Johnson (-0.93%) were the index’s worst performers.
The Nasdaq gained 0.11%, while tech slipped 0.01%. The “FAANG” stocks were mixed: Facebook (-0.19%), Amazon (-0.09%), Apple (-0.23%), Netflix (+0.63%), and Alphabet (+0.18%).
The VIX added 2.21% to 12.93. The 30-year and 10-year Treasury yields rose to 3.132% and 3.002% respectively, while the 2-year yield to increased to 2.552%.