“Stocks closed sharply higher on Monday, bouncing back from strong losses in the previous session as trade tensions between the U.S. and China appeared to ease,” Fred Imbert and Alexandra Gibbs report for CNBC.

“The Dow Jones industrial average surged 669.40 points to 24,202.60,” Imbert and Gibbs report. “The S&P 500 gained 2.7 percent to close at 2,658.55 — bounce off its 200-day moving average — with technology and financials leading all sectors higher. The Nasdaq composite advanced 3.3 percent to 7,220.54 with Apple and Amazon both rising.”

“The Financial Times reported China has offered to buy more semiconductors from the U.S. to help cut its trade surplus with the U.S. Shares of Qualcomm and Intel rose 4.6 percent and 6.3 percent, respectively, on the news,” Imbert and Gibbs report. “The Wall Street Journal also reported that U.S. and Chinese officials are working to improve U.S. access to China’s markets.”

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MacDailyNews Note: Apple (AAPL) shares closed today up $7.83, or 4.75%, at $172.77.