Stock indexes rallied during Monday midday trading after the White House signaled progress on trade negotiations, and news that the government would extend a 90-day temporary license allowing China’s Huawei Technologies to continue doing business with U.S. firms.
The S&P 500 jumped 1.4% to 2,929.23; the Dow Jones Industrial Average was up 1.1% to 26,180.91; and the Nasdaq surged 1.6% to 8,024.79.
The yield on a 10-year Treasury bond spiked 3.6% higher to 1.59%.
The price of gold decreased 0.8% to $1,512.
The price of oil increased 1.7% to $55.82 a barrel.
HEALTHCARE
Newport Beach-based Evolus Inc. (Nasdaq: EOLS) rose 6% to $14.90 and a $408 million market cap, a recovery after last week’s steep drop. Shares for the medical aesthetics company are up 25% since the start of the year. The company’s newly launched Jeuveau, a rival to Allergan Plc’s Botox, had second-quarter sales that beat Wall Street estimates, the company said last week.
MANUFACTURING
KushCo Holdings Inc. (OTC: KSHB) in Garden Grove dropped 7.2% to $4.07 and a $361 million market cap. Shares of the supplier of cannabis-related products have fallen 28% since the start of the year. The Motley Fool website ran an article yesterday saying the chances of the U.S. legalizing marijuana in the next few years are less than 1 in 300.
