U.S. stocks open higher as tech shares rebound
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E-mail Xinhua, May 21, 2019
NEW YORK, May 21 (Xinhua) -- U.S. stocks opened on an upbeat note on Tuesday as major tech shares were trying to rebound from Monday's declines after the news that the United States temporarily eased restrictions on Chinese telecom giant Huawei.
Shortly after the opening bell, the Dow Jones Industrial Average jumped 136.32 points, or 0.53 percent, to 25,816.22. The S&P 500 was up 16.58 points, or 0.58 percent, to 2,856.81. The Nasdaq Composite Index increased 67.00 points, or 0.87 percent, to 7,769.37.
The S&P 500 technology sector traded 1 percent higher after the opening, outperforming other groups.
Chipmaker stocks rose broadly. Lam Research gained 1.07 percent in morning trading, following a 5.4-percent decline in the previous session. Qualcomm stock also climbed more than 1 percent, after plunging nearly 6 percent on Monday. Shares of Nvidia advanced 1.38 percent.
VanEck Vectors Semiconductor ETF, which tracks the overall performances of major U.S. exchange-listed companies in the semiconductor industry, was up 1.9 percent.
U.S. equities tumbled on Monday with the tech-heavy Nasdaq down more than 100 points as investors grew concerned about global trade tensions. Enditem
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