Banks lead US stocks broadly higher on trade talk optimism

Banks lead US stocks broadly higher on trade talk optimism

Banks led stocks broadly higher on Wall Street in afternoon trading Thursday, placing the market on track to extend its gains from the day before. Investors have turned hopeful that a new round of negotiations between the U.S. and China will produce progress on ending the long-running trade war. The 13th round of talks began Thursday in Washington. The markets were encouraged after President Donald Trump said he would meet with Chinese Vice Premier Liu, who is leading Beijing’s negotiating team, at the White House on Friday. He also said China wants to make a deal. "It’s really good that Trump is meeting him, because that increases the odds that some type of positive news may happen tomorrow," said Brad Bernstein, senior portfolio manager at UBS Global Wealth Management. FILE – In this Oct. 7, 2019, file photo specialist Dilip Patel, right, work with traders at his post on the floor of the New York Stock Exchange. Banks led stocks broadly higher on Wall Street in afternoon trading Thursday, Oct. 10, placing the market on track to extend its gains from the day before. (AP Photo/Richard Drew, File) Markets have been jittery all week as investors continue to assess the potential for a deal as tensions between Washington and Beijing escalated ahead of the talks. The U.S. blacklisted a group of Chinese technology companies over alleged human rights violations earlier this week. Meanwhile, China has clashed with the NBA and U.S. companies over free-speech issues. Several big banks helped […]

Be the first to comment

Leave a Reply

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.