Stocks jump as tech, energy rally

Traders
work on the floor of the New York Stock
Exchange.
Thomson
Reuters

Stocks rose Tuesday as trade war fears took a backseat to
energy and tech rallies. Apple surged ahead of the
unveiling of new iPhones set for
Wednesday. The dollar and Treasury
yields edged higher.

Here’s the scoreboard:

Dow Jones industrial
average: 
25,971.19
 
+114.12 (+0.44%)

S&P
500: 2,888.19 +11.06 (+0.38%)

Nasdaq
Composite: 7,972.47+48.31 (+0.61%)

1. A Category 4 hurricane is
   due to make landfall on the East Coast of the US
   this week, with experts expecting it to cause “catastrophic”
   flash flooding and winds. Oil
   prices jumped about 3% as Hurricane Florence made its way
   toward the Carolinas and Virginia. Meanwhile, insurance and
   construction stocks
   took a beating.
2. Citing non-compliance with a ruling over dumping
   duties, China is planning to ask the World Trade
   Organization
   for permission to hit the US with
   sanctions. The request would come around the
   same time the Trump administration is expected to announce
   whether it will follow through with proposed tariffs on
   roughly $200 billion worth of Chinese products.
3. A former
   Tesla bull said the electric carmaker is “no longer
   investable.” Nomura Instinet analyst Romit
   Shah said the main issue was “the erratic behavior of
   CEO Elon Musk,” including his
   tweets, frequent short seller taunts and a recent earnings call
   outburst. Shares of the company plunged nearly 3% following
   the report. 

And a look at the upcoming economic calendar:

• The Labor Department releases its latest consumer and
  producer-price index readings.
• The Bank of England holds a policy meeting.