Stocks Rise on Trump’s Plan to Meet With China Trade Negotiator

Stocks Rise on Trump's Plan to Meet With China Trade Negotiator

U.S. stocks rallied Thursday after President Trump said he would meet with a key Chinese official for talks Friday, the latest example of trade hopes boosting global markets. The Dow Jones Industrial Average rose 151 points, or 0.6%, to 26497, after earlier climbing more than 250 points. The S&P 500 added 0.6%. The broad equity gauge entered the session down nearly 2% so far in October and roughly 3.5% below July’s record, though it was still up 16% for the year. The tech-laden Nasdaq Composite advanced 0.6%. The gains came after Mr. Trump said on Twitter that he would meet with Chinese Vice Premier Liu He, the head of the Chinese negotiating team, at the White House Friday, contradicting earlier media reports that Chinese leaders would be leaving Washington Thursday, a day earlier than expected. Thursday’s moves were the latest example of trade-induced volatility in markets. Global indexes and stock futures swung between gains and losses overnight on conflicting reports. Fears that the U.S. and China won’t reach a ceasefire on tariffs have led to projections that a global economic slowdown will ripple to consumers, denting spending and crimping corporate profits. Negotiations continued Thursday after the White House signed off on special licenses for some U.S. companies to do business with Chinese telecom giant Huawei Technologies Co., a possible sign of goodwill. At the same time, the U.S. adding 28 Chinese entities to an export blacklist earlier in the week also prompted caution among investors. "There’s some cause for […]

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