President Trump has instructed the Commerce Department to help China's ZTE, which is a "good" sign for investors who have been worried about a trade war between the two nations.
"It shows some kind of discussion is going on at a higher level," said Matthew Cheslock, an equity trader with Virtu Financial based on the floor of the New York Stock Exchange. "You saw today that Qualcomm (QCOM) - Get Report and NXP Semiconductors (NXPI) - Get Report have now said that they are going to [reenter talks] about what that merger could be."
China had reportedly stopped looking into the merger of the two chipmakers given the tariff uncertainty between China and the U.S, according to Bloomberg.
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