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Trade Deal Hopes Send Dow Up 353 Points

Dow adds 353 points
By Newser Editors and Wire Services
Posted Jun 18, 2019 3:15 PM CDT
Trader Gregory Rowe works on the floor of the New York Stock Exchange, Tuesday, June 18, 2019.   (AP Photo/Richard Drew)

(Newser) – Stocks closed broadly higher Tuesday as traders hoped that a meeting next week between President Trump and Xi Jinping of China could ease trade tensions between the two economic powers. The AP reports technology and industrial companies, which would benefit the most from easing trade tensions, rose more than the rest of the market: Apple climbed 2.4% and Caterpillar added 2.4%. The S&P 500 index rose 28 points, or 1%, to 2,917. The Dow added 353 points, or 1.4%, to 26,465. The Nasdaq rose 108 points, or 1.4%, to 7,953. Bond prices rose. The yield on the 10-year Treasury fell to 2.06%. European markets jumped after the head of the European Central Bank said it was ready to cut interest rates if necessary. (Read more stock market stories.)

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