US close: Markets rise on cooling of trade war concerns

Wall Street finished higher on Monday, on the heels of more market-friendly remarks from top US administration officials on the global trade picture at the weekend.

The Dow Jones Industrial Average finished up 2.84% at 24,202.60, the S&P 500 added 2.72% to 2,658.55, and the Nasdaq 100 ended the day 3.78% above the waterline at 6,753.83.

During the previous week, all three of the Street's main market gauges had slumped by roughly 6% each, with the S&P 500 having clocked-in with its worst performance in more than two years.

Over the weekend, US Treasury Secretary Steve Mnuchin indicated that progress was being made in negotiations with China on paring its bilateral trade surplus with Washington.

"We're having very productive conversations with them," Mnuchin told Fox News Sunday, when discussing the talks.

"I'm cautiously hopeful we reach an agreement."

The risk of further reshuffles in the top ranks of the US administration remained a source of concern and the object of market speculation.

Fanning the flames were reports at the weekend suggesting President Trump had until quite recently been mulling doing without a chief of staff, with an ex-White House chief strategist telling the FT much the same at the weekend.

There was little on tap at the start of the week in terms of economic data.

However, before the opening bell the Federal Reserve bank of Chicago reported that the three-month moving average for its national activity index jumped from +0.02 in January to +0.88 for March.

Among the most-heavily traded stocks on the big board were Lowe's, after the home improvement retailer's chief Robert Niblock said he would be stepping down.

Its stock finished up 6.61%.

Trading was also especially intense in shares of building materials group USG, which surged 19.49% after Berkshire Hathaway revealed it had proposed its sale to a German outfit for $42 a share.

Car parts marker Dana's shares were also on the up by 3.63%, even after GKN spurned its upwardly-revised buyout bid.

Also making headlines was outdoor gear-maker Yeti after the company withdrew its plans to float.

Dow Jones - Risers

Microsoft Corp. (MSFT) $93.78 7.57%
Intel Corp. (INTC) $52.48 6.32%
Apple Inc. (AAPL) $172.77 4.75%
Goldman Sachs Group Inc. (GS) $254.95 3.92%
Cisco Systems Inc. (CSCO) $44.06 3.87%
United Technologies Corp. (UTX) $126.66 3.54%
Caterpillar Inc. (CAT) $149.19 3.40%
Visa Inc. (V) $120.64 3.11%
JP Morgan Chase & Co. (JPM) $110.31 3.08%
Unitedhealth Group Inc. (UNH) $219.07 3.07%

Dow Jones - Fallers

General Electric Co. (GE) $12.90 -1.38%
Procter & Gamble Co. (PG) $76.41 0.66%
Coca-Cola Co. (KO) $42.69 0.85%
Merck & Co. Inc. (MRK) $54.04 1.18%
Exxon Mobil Corp. (XOM) $74.00 1.52%
Pfizer Inc. (PFE) $35.04 1.59%
Verizon Communications Inc. (VZ) $47.07 1.69%
Johnson & Johnson (JNJ) $127.38 1.83%
McDonald's Corp. (MCD) $158.01 1.96%
Nike Inc. (NKE) $65.90 1.97%

S&P 500 - Risers

Microsoft Corp. (MSFT) $93.78 7.57%
Lowe's Companies Inc. (LOW) $89.30 6.60%
Adobe Systems Inc. (ADBE) $228.91 6.46%
Netflix Inc. (NFLX) $320.35 6.45%
Intel Corp. (INTC) $52.48 6.32%
Analog Devices Inc. (ADI) $93.11 6.17%
Lam Research Corp. (LRCX) $214.96 6.08%
Under Armour Inc. Class A (UAA) $16.67 5.64%
Applied Materials Inc. (AMAT) $58.47 5.58%
Texas Instruments Inc (TXN) $106.60 5.17%

S&P 500 - Fallers

Pitney Bowes Inc. (PBI) $10.98 -3.00%
AbbVie Inc (ABBV) $95.28 -2.24%
Mattel Inc. (MAT) $13.02 -1.59%
General Electric Co. (GE) $12.90 -1.38%
Transocean Ltd. (RIG) $10.05 -1.18%
Diamond Offshore Drilling Inc. (DO) $15.36 -1.16%
Bed Bath & Beyond Inc. (BBBY) $21.07 -1.08%
Signet Jewelers Ltd (SIG) $38.50 -0.93%
Endo International Plc (ENDP) $5.81 -0.85%
Paychex Inc. (PAYX) $61.22 -0.83%

Nasdaq 100 - Risers

Microsoft Corp. (MSFT) $93.78 7.57%
Adobe Systems Inc. (ADBE) $228.91 6.46%
Netflix Inc. (NFLX) $320.35 6.45%
Intel Corp. (INTC) $52.48 6.32%
Analog Devices Inc. (ADI) $93.11 6.17%
Lam Research Corp. (LRCX) $214.96 6.08%
Applied Materials Inc. (AMAT) $58.47 5.58%
Texas Instruments Inc (TXN) $106.60 5.17%
Nvidia Corp. (NVDA) $244.48 4.94%
Autodesk Inc. (ADSK) $134.22 4.84%

Nasdaq 100 - Fallers

Paychex Inc. (PAYX) $61.22 -0.83%
Charter Communications Inc. (CHTR) $312.18 -0.07%
Facebook Inc. (FB) $160.06 0.42%
NetEase Inc. Ads (NTES) $297.38 0.58%
Wynn Resorts Ltd. (WYNN) $177.00 0.64%
Alexion Pharmaceuticals Inc. (ALXN) $111.55 0.69%
Expedia Inc. (EXPE) $106.84 0.69%
DENTSPLY Sirona Inc. (XRAY) $51.10 0.77%
Tesla Inc (TSLA) $304.18 0.88%
Hasbro Inc (HAS) $85.08 1.02%