The three major U.S. indexes all rose more than 1.5% on word that the Trump administration has delayed until Dec. 15 new tariffs on some Chinese imports while cutting other Chinese-made products from the list of those facing new duties.
The S&P 500 was up 1.7% at 2,931.29 in midday trading.
The Dow Jones Industrial Average rose 1.6% to 26,318.01.
The Nasdaq climbed 2% to 8,019.79.
The yield on a 10-year Treasury bond rose 2.5% to 1.68%.
The price of gold decreased 0.2% to $1,513.60
The price for a barrel of oil surged 4.4% to $57.32
Chipmaker Skyworks Solutions Inc. (Nasdaq: SWKS) of Irvine rose 2.8% to $78.40 a share for a market cap of $13.5 billion. Skyworks, whose biggest customer is Apple, rose after the Trump administration postponed new tariffs on mobile phones, laptops, video game consoles, computer monitors and selected other products. Shares of Apple rose as much as 5% on the news.
Retailer Boot Barn Holdings Inc. (Nyse: BOOT) of Irvine jumped 6% to $31.52 per share for a market cap of $894 million. Zacks Equity Research listed Boot Barn as one of the “top-ranked growth stocks’’ to buy yesterday.