Dow closes more than 300 points lower

Dow closes more than 300 points lower

What about buying the dip?

U.S. stocks enjoyed their largest one-day gains in more than two and a half years on Monday, with the S&P 500 index up 2.7%, as concerns of a trade war between USA and China eased.

The Dow surged 669 points - its third-biggest point gain in history - and had its best day in two and a half years.

After leaping more than 660 points on Monday, the Dow industrials ended down by 344 points, or 1.4 percent. The Nasdaq added 29 points, or 0.4 percent, to 7,250. The S&P 500 was up 2.72 percent at 2,658.57.

Technology companies and banks, which took some of the biggest losses last week, were up the most.

China also hit back on Trump's earlier aluminum and steel tariffs by threatening its own tariffs on about $3 billion worth of imports of USA goods, including pork, fruit, and wine.

The "trade tiff" has also failed to dent the strong global economic outlook, Stovall said.

Investors were encouraged by signs Washington and Beijing are open to negotiating on trade.

USA markets fell swiftly earlier this year when he imposed steep tariffs on steel and aluminum imports.

"This declaration of tariffs on the president's part was his typical opening salvo into a negotiation process", said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

Nvidia Moves Self-Driving Car Tests from Road to Data Center
Uber proactively suspended self-driving operations in all cities following the accident. News of Nvidia's self-driving auto testing suspension was first reported by Reuters .

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

The Dow finished over 300 points lower, reversing course after trading up as much as 244 points. Bank of America added $1.27, or 4.4 percent, to $30.44.

Bond prices rose, sending the yield on the 10-year Treasury down to 2.78 percent from 2.85 percent late Monday. The stock added $5.91 to $159.

Facebook fell another 2.2 per cent after the Federal Trade Commission said it was investigating the company's privacy practices. The stock eked out a gain of 67 cents, or 0.4 percent, to $160.06. Investors had their eye on the latest company earnings and deal news.

Finish Line vaulted $3.28, or 31.1 percent, to $13.83 after the sporting goods retailer agreed to be bought by JD Sports Fashion PLC. The shares of Qualcomm and Intel rose by 4.6% and 6.3% respectively.

May-dated crude futures gave back 30 cents, or 0.5%, to end at $65.25 per barrel. Brent crude, used to price worldwide oils, slipped a penny to close at $70.11. Today, it's little changed at 15768.89.

The Dow industrials were up 486 points, or 2.1 per cent, at 24,022.

The gold futures grew by 0.27% to 1,353.50 Dollars per ounce. Silver dropped 14 cents to $16.54 an ounce. The tech-heavy Nasdaq Composite fell by 2.9 percent. Tech shares fell 3.4% in their biggest one-day decline in about six weeks, while financials shed 1.9%. Germany's DAX rose 1.6 percent, while France's CAC 40 gained 1 percent.

In local currency terms, the UK's FTSE 100 remains the worst performing European index year-to-date, down 10.4%. In Asia, Tokyo's Nikkei 225 added 0.7 percent, while Hong Kong's Hang Seng rose 0.7 percent. South Korea's Kospi edged up 0.5 percent to 2,448.42.

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