Yahoo Finance Markets Right Now: Stocks post solid gains on trade hopes
NEW YORK (AP) â The latest on developments in financial markets (all times local):
4 p.m.
Stocks notched solid gains after news that the U.S. and China plan to hold talks next month and as several reports suggested the U.S. economy was still going strong.
The Dow Jones Industrial Average surged nearly 400 points, bond yields jumped and the price of gold fell as investors regained a bigger appetite for riskier holdings.
Markets have been rattled this summer as the longstanding trade conflict escalated and past rounds of negotiations failed to yield progress.
Chipmakers, which are especially reliant on doing business with China, rose. Nvidia soared 6.5%.
The S&P 500 rose 38 points, or 1.3%, to 2,976.
The Dow climbed 372, or 1.4%, to 26,728. The Nasdaq rose 139, or 1.8%, to 8,116.
Bond prices sank. The yield on the 10-year Treasury note jumped to 1.57%.
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11:45 a.m.
Stocks are solidly higher in midday trading on Wall Street after the U.S. and China agreed to restart trade talks next month and after some encouraging reports on the economy.
Technology stocks were among the biggest winners Thursday. Chipmakers, which are especially reliant on doing business with China rose. Intel climbed 3.6%.
Markets have been jittery in recent weeks as trade tensions between the two countries have escalated, and new tariffs kicked in last weekend.
The S&P 500 rose 39 points, or 1.3%, to 2,977.
The Dow Jones Industrial Average climbed 434, or 1.6%, to 26,789. The Nasdaq rose 124, or 1.6%, to 8,101.
Bond prices fell sharply. The yield on the 10-year Treasury note jumped to 1.58%.
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9:35 a.m.
Word that the U.S. and China will restart trade talks next month and some encouraging data on hiring sent stocks solidly higher in early trading on Wall Street.
Early winners among U.S. stocks Thursday included major technology companies, which do a lot of business with China and stand to gain if the trade conflict abates. Chipmaker Intel jumped 3.6%.
Markets have been jittery in recent weeks as trade tensions between the two countries have escalated, and new tariffs kicked in last weekend.
The S&P 500 rose 28 points, or 1%, to 2,966.
The Dow Jones Industrial Average climbed 312, or 1.2%, to 26,668. The Nasdaq rose 97, or 1.2%, to 8,072.
Bond prices fell. The yield on the 10-year Treasury note rose to 1.53%.
