U.S. stocks rose by about 1% for the second straight day on Thursday on hopes that top-level U.S.-China trade talks would yield at least a partial deal, while a rise in Apple's shares lifted the technology sector.
Wall Street’s main indexes moved higher after President Donald Trump tweeted he would meet Chinese Vice Premier Liu He on Friday for further trade talks.
A senior U.S. Chamber of Commerce official said U.S. and Chinese negotiators were working towards an “early harvest” of confidence-building agreements, including one to avoid currency manipulation.
Apple Inc (AAPL.O) rose 1.4%, lifting the technology sector .SPLCRT by 1%, after Longbow Research upgraded the company’s stock to “buy”, citing higher iPhone 11 demand.
At 11:31 a.m. ET the Dow Jones Industrial Average was up 224.93 points, or 0.85%, at 26,570.94, while the S&P 500 was up 26.44 points, or 0.91%, at 2,945.84. The Nasdaq Composite was up 71.85 points, or 0.91%, at 7,975.59.
Source : Reuters