Tech Rebound Powers Wall Street Gains

Stocks are closing higher on Wall Street Tuesday as technology companies lead solid gains across the market, the AP reports. Chipmakers rallied after the US government issued a 90-day grace period on its order to restrict US firms from selling to Chinese telecom gear maker Huawei. Micron Technology rose 2.9%. Apple rose 2% and Boeing gained 1.7% to boost the Dow Jones Industrial Average. Quarterly reports from two department stores disappointed investors. JC Penney fell 7% after reporting a wider than expected quarterly loss, while Kohl's sank 12.3% after cutting its outlook for fiscal 2020. The S&P 500 index rose 24 points, or 0.9%, to 2,864. The Dow gained 197 points, or 0.8%, to 25,877. The Nasdaq added 83 points, or 1.1%, to 7,785. (More stock market stories.)