Stocks Rise on Hope for Trade Progress

Dow ends day up 45
By Newser Editors and Wire Services
Posted Sep 12, 2019 3:04 PM CDT
Traders Michael Urkonis, left, and Robert Charmak work on the floor of the New York Stock Exchange, Wednesday, Sept. 4, 2019.   (AP Photo/Richard Drew)

(Newser) – Stocks are closing higher Thursday as investors grow cautiously optimistic the US and China can make progress in upcoming trade talks, the AP reports. The S&P 500 gained 8 points, or 0.3%, to 3,009, led by technology and consumer-focused companies, although the rally lost some steam in the final minutes of trading. Microsoft rose 1% and PayPal added 3%. Shares of Amazon gained 1.1% while Hasbro rose 1.8%. Energy was the worst-performing sector as the price of oil fell 1% to $55.09 a barrel. Marathon Oil dropped 3.4%. The Dow Jones industrials rose 45 points, or 0.2%, to 27,182 after being up about 170 points earlier. The Nasdaq gained 24 points, or 0.3%, to 8,194. Bonds fell. The yield on the 10-year Treasury rose to 1.78% from 1.73% a day earlier. (Read more stock market stories.)

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