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Stocks Gain as Tech Hardware Offsets Chip Weakness: Markets Wrap

Eric J Weiner
Stocks Gain as Tech Hardware Offsets Chip Weakness: Markets Wrap

U.S. stocks rose in light summer trading Friday on strength in technology hardware shares and optimism for a resolution in America’s trade dispute with China amid reports that President Donald Trump and Chinese President Xi Jinping will meet in November in an attempt to end the roadblock. Department store chain Nordstrom Inc. was the best performing company in the benchmark as investors responded to its strong second-quarter results and healthy profit outlook for the year. The Philadelphia Stock Exchange Semiconductor Index dropped 0.7 percent, its fourth consecutive decline.

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