U.S. stocks rose across the board on Monday as fears about a trade war between the United States and China eased following reports that the two countries were willing to negotiate tariffs and trade imbalances.
All the 11 major S&P indexes were up, led by a 2.4 percent gain in technology .SPLRCT and financial .SPSY indexes. Gainers on the New York Stock Exchange outnumbered losers for a 9.30-to-1 ratio and for a 7.39-to-1 ratio on the Nasdaq.
The United States asked China in a letter last week to slash tariffs on U.S. autos, buy more U.S.-made semiconductors and give U.S. firms greater access to the Chinese financial sector, the Wall Street Journal reported on Monday.
Chinese Premier Li Keqiang said on Monday the country would treat foreign and domestic firms equally, not force foreign firms to transfer technology and would strengthen intellectual property rights, repeating promises that have failed to placate Washington.