Markets Right Now: Stocks post gains on trade talk hopes
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are rising at midday on Wall Street Thursday after the U.S. and China made goodwill gestures ahead of talks about their trade dispute expected to take place next month.
Technology companies, which are particularly impacted by the trade war, led the gains. PayPal rose 3.3%.
Consumer-focused stocks also showed solid gains. Hasbro rose 2.8%.
Energy was the only declining sector following a drop in oil prices. Marathon Oil dropped 4%.
The S&P 500 gained 12 points, or 0.4%, to 3,013.
The Dow Jones industrials rose 111 points, or 0.4%, to 27,248. The Nasdaq was up 45 points, or 0.5%, to 8,214.
Bonds fell after rising earlier. The yield on the 10-year Treasury rose to 1.77% from 1.73% a day earlier.
Stocks are rising early on Wall Street Thursday on further signs of easing tensions in the U.S.-China trade war.
President Donald Trump late Wednesday decided to delay a planned Oct. 1 tariff hike on Chinese imports. Chinese importers have made inquiries on prices of certain U.S. farm goods, a move also seen as a goodwill gesture ahead of upcoming negotiations.
The S&P 500 gained 10 points, or 0.4%, to 3,011.
The Dow Jones industrials rose 43 points, or 0.2%, to 27,180. The Nasdaq was up 41 points, or 0.5%, to 8,210.
Bond prices rose. The European Central Bank cut one interest rate further below zero, making U.S. Treasurys appealing to investors looking for a positive return. The yield on the 10-year Treasury fell to 1.71% from 1.73% a day earlier.