NATIONAL NEWS

Stocks Edge Higher And Regain Some Lost Ground

May 14, 2019, 9:55 AM | Updated: Jun 8, 2022, 5:09 pm
Traders and financial professionals work during the opening bell on the floor of the New York Stock Exchange (NYSE), May 14, 2019 in New York City. Following steep drops on Monday, the Dow Jones Industrial Average was back up over 100 points at the open on Tuesday morning as investors continue to weigh the impacts of an escalating trade conflict between the United States and China. (Photo by Drew Angerer/Getty Images)
(NYSE)

NEW YORK (AP) — Stocks regained some ground in late morning trading Tuesday following a nosedive at the start of the week as the U.S. and China escalate their trade war.

Investors have been dealing with creeping uncertainty since last week after President Donald Trump’s decision to raise tariffs on Chinese goods. China responded by raising its own tariffs, and the U.S. is considering expanding tariffs again to cover all imported Chinese goods.

The escalation surprised investors who had expected a deal sooner rather than later. They now have to expect much more volatility as the world’s largest economies head toward a full-blown trade war that could threaten economic growth.

Technology stocks, which would stand to suffer heavily in a prolonged trade war, led the market higher after taking a beating the day before. Qualcomm and Cisco both rose, along with Oracle, Adobe and others.

Banks also rose. JPMorgan Chase, Bank of America and others moved higher.

Video game maker Take-Two rose after its fourth quarter profit beat Wall Street forecasts. Disney gained ground after announcing a deal with Comcast to take full control of the video streaming service Hulu. Amazon, Mattel and other companies that cater to consumers ticked higher.

Utilities, a safe-play sector that investors favor when they’re feeling fearful, were the only sector to fall. A day earlier, they were the only winners in the market.

The market has essentially flipped from caution and fear to optimism over the course of a day. Investors are buying more risk-heavy holdings, such as technology stocks. An index known as Wall Street’s “fear gauge,” which measures how much volatility the market expects in the future, fell 10.7%. That marks a sharp turnaround from spiking 28.1 % on Monday.

KEEPING SCORE: The S&P 500 index rose 0.8% as of 11 a.m. Eastern Time. The Dow Jones Industrial Average rose 203 points, or 0.8%, to 25,528. The Nasdaq composite rose 0.9%.

MOUSE HOUSE EXPANSION: Disney rose 1.8%. The deal the entertainment giant struck with Comcast can give Disney full ownership of Hulu as of 2024. Disney and other media companies have been making big efforts to get into video streaming in order to meet the challenge posed by Netflix. Comcast rose 1.9%.

HOLES IN THE FABRIC: Ralph Lauren fell 6.8% after investors focused on a drop in revenue from the upscale clothing company’s key market in North America. The downturn in regional sales helped weigh down overall revenue, though profit and revenue still beat analyst forecasts for the quarter.

Several other retailers also moved lower. Gap fell 2.4% and Macy’s fell 1.1%.

KSL 5 TV Live

Top Stories

National News

Airline passengers, some not wearing face masks following the end of Covid-19 public transportation...
Geneva Sands and Forrest Brown, CNN

Deadline for REAL ID extended, giving US air travelers a reprieve

If you've been sweating out that latest deadline for REAL ID required for US air travel, you're getting another reprieve.
13 hours ago
PHOENIX, AZ - NOVEMBER 14: A right wing activist wearing a 'LAKE FOR GOVERNOR' hat stands on the si...
JONATHAN J. COOPER, Associated Press

Arizona certifies 2022 election despite GOP complaints

Arizona’s top officials have certified the midterm election results, formalizing victories for Democrats over Republicans who falsely claimed the 2020 election was rigged.
13 hours ago
A healthcare worker prepares a dose of Pfizer-BioNTech Covid-19 vaccine at a vaccination site in Sa...
LAURAN NEERGAARD, AP Medical Writer

Pfizer asks FDA to clear updated COVID shot for kids under 5

Pfizer is asking U.S. regulators to authorize its updated COVID-19 vaccine for children under age 5.
13 hours ago
Ultraprocessed foods, like burgers and fries, could raise your risk for cognitive decline if it's m...
Sandee LaMotte, CNN

Dementia risk may increase if you’re eating these foods, study says

If more than 20% of your daily calorie intake is ultraprocessed foods, however, you may be raising your risk for cognitive decline, a new study found.
13 hours ago
Body camera footage taken from a traffic stop last month. (Pinellas County Sheriff's Office)...
Associated Press

Tampa police chief resigns over golf cart traffic stop

The police chief in Tampa, Florida, has resigned after using her position to escape a ticket during a traffic stop involving her golf cart driven by her husband.
13 hours ago
Aerial view of fissure 3 eruption lava channel on the Northeast Rift Zone of Mauna Loa the morning ...
Audrey McAvoy and Haven Daley, Associated Press

Molten lava on Hawaii’s Big Island could block main highway

Many people on the Big Island of Hawaii are bracing for major upheaval if lava from Mauna Loa volcano blocks the quickest route connecting two sides of the island.
13 hours ago

Sponsored Articles

house with for rent sign posted...
Chase Harrington, president and COO of Entrata

Top 5 reasons you may want to consider apartment life over owning a home

There are many benefits of renting that can be overshadowed by the allure of buying a home. Here are five reasons why renting might be right for you.
Festive kitchen in Christmas decorations. Christmas dining room....
Lighting Design

6 Holiday Decor Trends to Try in 2022

We've rounded out the top 6 holiday decor trends for 2022 so you can be ahead of the game before you start shopping. 
Happy diverse college or university students are having fun on their graduation day...
BYU MBA at the Marriott School of Business

How to choose what MBA program is right for you: Take this quiz before you apply!

Wondering what MBA program is right for you? Take this quiz before you apply to see if it will help you meet your goals.
Diverse Group of Energetic Professionals Team Meeting in Modern Office: Brainstorming IT Programmer...
Les Olson

Don’t let a ransomware attack get you down | Protect your workplace today with cyber insurance

Business owners and operators should be on guard to protect their workplace. Cyber insurance can protect you from online attacks.
Hand turning a thermostat knob to increase savings by decreasing energy consumption. Composite imag...
Lighting Design

5 Lighting Tips to Save Energy and Money in Your Home

Advances in lighting technology make it easier to use smart features to cut costs. Read for tips to save energy by using different lighting strategies in your home.
Portrait of smiling practitioner with multi-ethnic senior people...
Summit Vista

How retirement communities help with healthy aging

There are many benefits that retirement communities contribute to healthy aging. Learn more about how it can enhance your life, or the life of your loved ones.
Stocks Edge Higher And Regain Some Lost Ground