Stocks Surge as China Trade Tensions Ease

Dow ends day up 428
By Newser Editors and Wire Services
Posted Apr 10, 2018 3:18 PM CDT
Trader Jonathan Corpina, left, and specialist Thomas Schreck work on the floor of the New York Stock Exchange, Tuesday, April 10, 2018. Stocks are opening sharply higher on Wall Street as investors were...   (AP Photo/Richard Drew)

(Newser) – Major US stock indexes are closing sharply higher after China's leader sounded a conciliatory tone on trade tensions with the US, the AP reports. Automakers and technology companies climbed Tuesday after President Xi Jinping said he would cut China's auto tariffs and improve intellectual property protection. General Motors rose 3.3% and chipmaker Nvidia jumped 5.8%. Investors seemed pleased with how Facebook CEO Mark Zuckberg's Congressional testimony on data privacy started out. Facebook rose 4.5%, and rival social media company Twitter increased 5.4%. The S&P 500 increased 43 points, or 1.7%, to 2,656. The Dow Jones industrial average rose 428 points, or 1.8%, to 24,408. The Nasdaq added 143 points, or 2.1%, to 7,094.

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