Communications Services Up Amid Hopes for Huawei - Communications Services Roundup

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10/10/2019 | 09:25 pm

Communications services companies rose as traders rotated into sectors most sensitive to U.S.-Chinese negotiations.

The U.S. ban on doing business with Huawei Technologies has clouded the outlook for 5G network infrastructure building worldwide by sidelining a key equipment maker. The Trump administration moved to allow more U.S. companies to do business with Huawei in a sign of good faith ahead of trade talks Thursday.

Cisco Systems fell after analysts at brokerage Goldman Sachs cut their rating on the maker of networking equipment, citing a likely "pause" in telecom spending ahead of 5G network rollouts.

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