(By Salman - iStockAnalyst Writer)US stocks gained on Monday as investors shrugged off growing trade dispute with China.
The Dow Jones Industrial Average rose 21.39 points or 0.22% to finish at 9,626.80. The S&P 500 climbed 6.61 points or 0.63% to end at 1,049.43. The Nasdaq Composite gained 10.88 points or 0.52% to 2,091.78.
Shares of the Goodyear Tire & Rubber Co (NYSE:
GT), the world's No. 3 tire make tire company, rose the most since at least July after the Obama administration announced plans to impose steep additional duties on tire imports from China. China's commerce industry said Sunday that it will investigate the dumping of U.S. chicken and autos into its markets. Tyson Food (NYSE:
TSN) plunged 30 cents or 2.35% to $12.45.
Shares of diversified US firm General Electric Co. (NYSE:
GE) rallied 68 cents or 4.64% to $15.34.
JP Morgan (NYSE:
JPM) jumped $1.25 or 2.94% to $43.75.
Shares of chemical company DuPont Co. (NYSE:
DP) climbed 47 cents or 1.48% to 2.28.
Coca Cola (NYSE:
KO) rose 65 cents or 1.26% to $52.16.
Shares of Sprint Nextel (NYSE:
S) soared 38 cents or 10.08% to $4.15 on Monday following media reports that Deutsche Telekom is considering a bid for the company.
E-Trade Financial Corp. (NASDAQ:
ETFC) jumped in premarket trade Monday after Citigroup analyst Keith Walsh lifted his rating on the online broker to buy from hold. Citi raised its target price on the stock to $2.30 from $1.50.Shares jumped 12 cents or 7.23% to $1.78.
AES Corp.(NYSE:
AES) soared 64 cents or 4.52% following media reports that China's investment arm is eyeing a stake in the U.S. utility company and power plant developer.
Drugmaker Mylan Inc. (NASDAQ:
MYL) announced on Monday that the U.S. Food and Drug Administration accepted for filing its abbreviated new-drug application for glatiramer acetate injection 20 mg/ml, a generic version of Teva's flagship drug, the multiple-sclerosis treatment Copaxone. Shares of Mylan finished at $15.24, up 8 cents or 0.53%.Teva fell $1.01 or 1.92% to $51.69.
Tenet Healthcare Corp. (NYSE:
THC) raised its full-year forecast for adjusted earnings before interest, taxes, depreciation and amortization to a range of $900 million to $950 million from a previous range of $810 million to $875 million. Shares jumped 30 cents or 5.50% to $5.75.
Meanwhile, Abbott (NYSE:
ABT) received approval from China to sell its drug-coated Xience V stent. Shares rose 50 cents or 1.07% to close at $47.33
European stocks settled mixed. The UK FTSE rose 7.38 points or 0.15% to 5,018.85.The German DAX gained 0.37 and French CAC decreased 0.07% and 0.11%.
Asian stocks finished mixed. The Nikkei 225 fell 69.34 points or 0.66% to 10,444.33. The Hang Seng index of Hong Kong rose 91.86 points or 0.44% to 21,161.42.
NYMEX crude oil for October delivery declined 3 cents or 0.6% to close at $68.86 a barrel.
Disclosure: Author doesn't own any of the stocks discussed here.
