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US-China Trade Hopes Bolster Markets

China offered to spend more on US goods and services
By Newser Editors and Wire Services
Posted Jan 18, 2019 3:24 PM CST
Trader Gregory Rowe works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew)

(Newser) – Stocks closed higher Friday as renewed hopes for progress in trade talks between the US and China contribute to optimism on Wall Street, per the AP. Bloomberg News reported that China's government offered to buy more goods and services from the US, potentially eliminating its trade deficit by 2024. Technology and industrial companies made some of the top gains, while banks rose after more of them posted strong fourth-quarter reports. Deere & Co. jumped 2.8% and Microsoft gained 1.5%. Timberland maker VF jumped 12.4% after raising its annual forecasts. The S&P 500 index climbed 34 points, or 1.3%, to 2,670. The Dow Jones Industrial Average rose 336 points, or 1.4%, to 24,706. The Nasdaq composite added 72 points, or 1%, to 7,157. (Read more stock market stories.)

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