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Stocks Climb After Reports of Trade Talks

Dow up 150 as tech shares rise
By Newser Editors and Wire Services
Posted Oct 10, 2019 3:31 PM CDT
Stocks Climb After Reports of Trade Talks
Michael Gagliano works at his post on the floor of the New York Stock Exchange on Oct. 2.   (AP Photo/Richard Drew)

(Newser) – Stocks are closing broadly higher on Wall Street as traders turn hopeful that meetings in Washington will yield progress on the long-running US-China trade dispute. Markets were encouraged Thursday after President Trump said he would meet with China's lead negotiator on Friday. Technology stocks posted solid gains. Skyworks Solutions added 5.2%. Bed Bath & Beyond soared 21.6% after naming a new CEO, and PG&E plunged 29% after a bankruptcy judge allowed creditors to have input into the restructuring of the troubled utility. The S&P 500 rose 18 points, or 0.6%, to 2,938. The Dow Jones Industrial Average climbed 150 points, or 0.6%, to 26,496. The Nasdaq added 47 points, or 0.6%, to 7,950. The yield on the 10-year Treasury rose to 1.66%. (Read more stock market stories.)

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