Markets

Mid-Day Update: Wall Street Advances on Trade Deal Optimism

US stocks maintained their solid gains around midday on Wednesday as recent presidential comments on the ongoing US-China trade talks drove market optimism.

President Donald Trump signaled he would allow more flexibility on the trade-deal deadline if the two sides were making enough progress.

In economic news, the consumer price index ( CPI ) headline was flat in January, against consensus for a 0.1% rise, while the core was up in line with expectations at 0.2%.

Across the Atlantic, equities gained ground following upbeat corporate earnings results, including those from Dutch brewer Heineken and chemicals manufacturer Akzo Nobel.

Crude oil is up 2.28% to $54.31 per barrel. Natural gas is down 3.79% to $2.586 per 1 million BTU. Gold is up 0.18% to $1,316.40 an ounce, while silver is up 0.03% to $15.695 an ounce. Copper is up 0.09% to $2.7745 per pound.

Among energy ETFs, the United States Oil Fund is up 2.28% to $11.42 with the United States Natural Gas Fund is down 2.86% to $23.13. Among precious-metal funds, the Market Vectors Gold Miners ETF is up 0.59% to $22.19 while SPDR Gold Shares are up 0.23% to $124.14. The iShares Silver Trust is up 0.07% to $14.74.

Here's where the markets stood at mid-day:

US MARKETS

NYSE Composite Index is up 0.53% to 12,504.10

Dow Jones Industrial Index is up 0.51% to 25,555.57

S&P 500 is up 0.40% to 2,755.76

Nasdaq Composite Index is up 0.14% to 7,428.83

GLOBAL SENTIMENT

FTSE 100 is up 0.74% to 7,186.38

DAX is up 0.69% to 11,202.25

CAC 40 is up 0.46% to 5,079.87

Nikkei 225 is up 0.34% to 21,144.48

Hang Seng Index is up 1.16% to 28,497.59

Shanghai China Composite Index is up 1.84% to 2,721.07

NYSE SECTOR INDICES

NYSE Energy Sector Index is up 0.36% to 7,694.29

NYSE Financial Sector Index is up 0.36% to 7,694.23

NYSE Healthcare Sector Index is down 0.07% to 15,765.19

UPSIDE MOVERS

(+) RWLK (+28.1%) Says Cigna adopts policy change for coverage of personal exoskeleton devices

(+) LSCC (+27.1%) Meets Q4 adjusted earnings estimates, beats revenue

(+) GSUM (+10.4%) Partners with New H3C Group

DOWNSIDE MOVERS

(-) TEVA (-8.7%) Reports mixed Q4 results

(-) GRPN (-13.6%) Reports mixed Q4 results

(-) MDR (-22.3%) Sees $168 million impact related to the Cameron LNG project

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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