NEW YORK, Aug. 13 (Xinhua) -- U.S. stocks traded sharply higher on Tuesday, erasing the deep losses of the previous day, as the market was buoyed by easing U.S.-China trade tensions.
At midday, the Dow Jones Industrial Average rose 416.8 points, or 1.61 percent, to 26,314.51. The S&P 500 increased 47.64 points, or 1.65 percent, to 2,930.73. The Nasdaq Composite Index increased 155 points, or 1.97 percent, to 8,018.41.
All of the 30 blue-chip stocks in the Dow extended gains around midday, with shares of Apple rallying over 4 percent, leading the gainers.
Shares of trade bellwethers Caterpillar and Intel rose 3.6 percent and 1.35 percent respectively, among the best performers.
Semiconductor stocks, also sensitive to U.S.-China trade relations, also jumped around midday, with the Philadelphia Semiconductor Index up 2.95 percent.
The metric is a capitalization-weighted index composed of semiconductor companies that basically design, distribute, manufacture and sell semiconductors.
Ten of the 11 primary S&P 500 sectors traded higher around midday, with the information technology sector up over 2.2 percent, leading the gainers.
Investors have been closely following up on safe-haven assets, such as the U.S. treasury bills, gold and low-risk currencies including the Japanese yen and Swiss franc.
Yields of the U.S. long-term and short-term treasury bills mostly increased around midday, with the yield of the closely-watched ten-year note inching up to over 1.68 percent. The yield of the two-year bill rose to over 1.65 percent. Enditem
