Stocks celebrate phase one trade deal with record highs

Manufacturing, tech giants come up winners

U.S. stocks tagged record highs during a signing ceremony for the historic phase one trade deal between the U.S. and China.

All three of the major averages were trading in record territory with the Dow Jones Industrial Average leading the advance.

Ticker Security Last Change Change %
SP500 S&P 500 4544.9 -4.88 -0.11%
I:DJI DOW JONES AVERAGES 35677.02 +73.94 +0.21%
I:COMP NASDAQ COMPOSITE INDEX 15090.200353 -125.50 -0.82%

“This officially removes an overhang that has plagued technology names for the last year, with the poster child Apple and semiconductor stocks front and center,” wrote Dan Ives, managing director at the Los Angeles-based investment bank Wedbush Securities.

Big-tech names like the iPhone maker as well as Microsoft and Alphabet, Google's parent, all jumped on the news.

Ticker Security Last Change Change %
AAPL APPLE, INC. 148.69 -0.79 -0.53%
MSFT MICROSOFT CORP. 309.16 -1.60 -0.51%
GOOGL ALPHABET, INC. 2,751.33 -86.39 -3.04%

Chipmakers AMD, Qualcomm and Texas Instruments fell.

Ticker Security Last Change Change %
AMD ADVANCED MICRO DEVICES, INC. 119.82 +0.49 +0.41%
QCOM QUALCOMM, INC. 131.62 -1.43 -1.07%
TXN TEXAS INSTRUMENTS INCORPORATED 199.07 -2.22 -1.10%

As did the Chinese companies traded in the U.S. like Alibaba, JD.com and Weibo.

Ticker Security Last Change Change %
BABA ALIBABA GROUP HOLDING LTD. 177.70 +0.28 +0.16%
JD JD.COM, INC. 83.07 -0.90 -1.07%
WB WEIBO CORP. 50.29 -0.43 -0.85%

The trade-sensitive names Boeing, Caterpillar and United Technologies were mixed.

Ticker Security Last Change Change %
BA THE BOEING CO. 212.97 -1.37 -0.64%
CAT CATERPILLAR, INC. 200.76 -0.27 -0.13%
UTX n.a. n.a. n.a. n.a.

“While the tariff issue in the near-term is removed and a dark cloud is cleared, now the focus shifts to the details and roadmap for a phase two deal and the specifics around IP protection and other forced technology-transfer issues which make this a murky situation,” Ives said.