NEW YORK (AP) — U.S. stocks are closing higher and recovering more than half of their sell-off from Friday. The S&P 500 climbed 1.6% Monday, its best day since May. The Dow Jones Industrial Average rallied 1.3%, and the Nasdaq composite jumped 2.2%. The indexes leaped after President Donald Trump softened his criticism of China, just a couple days after he shocked the market by threatening much higher tariffs on the world’s second-largest economy. Continued excitement about artificial-intelligence technology also helped drive the market, and Broadcom jumped to one of Wall Street’s biggest gains. Bond trading was closed in the U.S. for a holiday.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

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