US Markets

Wall Street jumps as trade deal hopes rise

Credit: REUTERS/BRENDAN MCDERMID

U.S. stocks rose on Thursday after President Donald Trump confirmed he would meet Chinese Vice Premier Liu He on Friday for further trade talks, adding to optimism following a report that China was willing to reach a deal.

Oct 10 (Reuters) - U.S. stocks rose on Thursday after President Donald Trump confirmed he would meet Chinese Vice Premier Liu He on Friday for further trade talks, adding to optimism following a report that China was willing to reach a deal.

At 9:56 a.m. ET, the Dow Jones Industrial Average .DJI was up 152.65 points, or 0.58%, at 26,498.66, while the S&P 500 .SPX was up 16.28 points, or 0.56%, at 2,935.68. The Nasdaq Composite .IXIC was up 49.44 points, or 0.63%, at 7,953.18.

Trump confirmed the two sides will be meeting again on Friday. South China Morning Post had reported earlier that the Chinese delegation, headed by Liu He, planned to leave Washington on Thursday.

Separately, Liu He said Beijing was willing to reach an agreement with Washington to prevent any further escalation in the trade war, Chinese state news agency Xinhua reported.

The S&P 500 opened lower by 0.85 points, or 0.03%, at 2,918.55. The Nasdaq Composite gained 0.82 points, or 0.01%, to 7,904.56 at the opening bell. The Dow Jones Industrial Average fell 28.66 points, or 0.11%, at the open to 26,317.35.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sriraj Kalluvila)

((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780))

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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