NEW YORK (Dispatches) - Stocks rallied in early trading Friday, erasing their losses for the week, as investors hope for a breakthrough in the U.S.-China trade war.
Technology stocks led the way higher. The sector has been closely tracking swings in trade war sentiment because many of those companies rely heavily on China for sales. Chipmakers were among the standouts. Intel rose 2.2% and Nvidia gained 2.6%.
Investors dumped bonds as they moved money out of low-risk assets. That sent yields sharply higher. The yield on the 10-year Treasury, a benchmark for mortgages and many other kinds of loans, jumped to 1.75% from 1.65% late Thursday, a big move.