Stocks end higher as Trump seeks to ease China trade tensions Stocks closed broadly higher, rebounding from Friday's losses after U.S. President Donald Trump indicated his intention to ease trade tensions with China after he raised tariff rates on $550B in Chinese goods late last week. The president, who over the weekend said he regrets not raising the tariffs even higher, softened his stance to start the week, saying that Beijing had contacted the White House to say it wanted to continue trade negotiations. ECONOMIC NEWS: In the U.S., durable goods orders climbed 2.1% in July after a revised 1.8% rebound in June after the -2.3% drop in May. Transportation orders surged 7.0% after the prior 4.1% gain. In trade news, U.S. President Donald Trump said that the White House has reached a trade deal with Japan "in principle," saying that the transaction covers "billions and billions of dollars." Looking at China, Trump tweeted that President Xi Jinping and his representatives want a "calm resolution" and that trade talks between the two countries are ongoing. TOP NEWS: Amgen (AMGN) shares closed 3.2% higher after it announced an agreement with Celgene (CELG) in connection with its previously announced merger with Bristol-Myers (BMY) to acquire worldwide rights to psoriasis and psoriatic arthritis treatment Otezla, and certain related assets and liabilities, for $13.4B in cash, or approximately $11.2B, net of the present value of $2.2B in anticipated future cash tax benefits. The transaction is expected to close by the end of 2019. In connection with the news, Bristol-Myers, whose shares rose 3.3%, announced that it will raise its accelerated share repurchase program to $7B from $5B. Shares of Johnson & Johnson (JNJ) were in focus after Bloomberg reported that J&J will be held liable for fueling Oklahoma's opioid crisis. According to Bloomberg, the drugmaker has been ordered to pay $572M in the first state opioid case to go to trial. Meanwhile, shares of TechnipFMC (FTI) were 1.7% higher in New York after the company said its board has approved a plan to separate into two independent, publicly traded companies: RemainCo, a technology and services provider, and SpinCo, an engineering and construction company. The separation is expected to be completed in the first half of 2020. Additionally, Oracle (ORCL) was in focus after it filed a notice of appeal regarding procurement of the Pentagon's JEDI contract. MAJOR MOVERS: Among the noteworthy gainers was PDC Energy (PDCE), which surged 17.4% after it agreed to combine with SRC Energy (SRCI) in an all-stock transaction valued at $1.7B. SRC Energy shares were 12% higher after the news. Also higher was Akorn (AKRX), which rose 8.5% after receiving FDA approval for its Zelastine Hydrochloride Nasal Spray. Among the notable losers was Zogenix (ZGNX), which slid 8.4% after it announced the acquisition of Modis Therapeutics with a $250M upfront payment. Also lower was Cree (CREE), which fell 8.3% after Piper Jaffray analyst Harsh Kumar downgraded the stock to Underweight from Neutral and cut his price target for the shares to $38 from $57. INDEXES: The Dow rose 269.93, or 1.05%, to 25,898.83, the Nasdaq gained 101.97, or 1.32%, to 7,853.74, and the S&P 500 advanced 31.27, or 1.1%, to 2,878.38. Symbols: $AMGN $CELG $BMY $JNJ $FTI $ORCL $PDCE $SRCI $AKRX $ZGNX $CREESource: (thefly.com)Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page.