NEW YORK: U.S. stocks closed higher on Tuesday after an announced delay of planned tariffs on some Chinese imports brought buyers back to the equities market in a broad-based rally.
Apple, a likely beneficiary of the tariff delay, rose 4.2per cent on Nasdaq, while the Philadelphia SE Semiconductor Index gained 3.0per cent. The spread between 2-year and 10-year U.S. Treasuries hit its flattest level in 12 years, reflecting anxieties over trade and geopolitical turmoil. But yields rose across the board on news of the tariff delay.
Shares of CBS Corp and Viacom Inc gained 1.4per cent and 2.4per cent, respectively, after sources told Reuters the companies had reached an agreement in principle regarding their impending merger.
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