Markets Right Now: Stocks surge as China trade tensions ease - InfoNews

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Markets Right Now: Stocks surge as China trade tensions ease

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 encouraged to see conciliatory remarks from China's leader over trade. (AP Photo/Richard Drew)
April 10, 2018 - 1:08 PM

NEW YORK - The latest on developments in financial markets (all times local):

4 p.m.

Major U.S. stock indexes are closing sharply higher after China's leader sounded a conciliatory tone on trade tensions with the U.S.

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 per cent and chipmaker Nvidia jumped 5.8 per cent.

Investors seemed pleased with how Facebook CEO Mark Zuckberg's Congressional testimony on data privacy started out. Facebook rose 4.5 per cent, and rival social media company Twitter increased 5.4 per cent.

The S&P 500 increased 43 points, or 1.7 per cent, to 2,656.

The Dow Jones industrial average rose 428 points, or 1.8 per cent, to 24,408. The Nasdaq added 143 points, or 2.1 per cent, to 7,094.

Bond prices fell. The yield on the 10-year Treasury rose to 2.79 per cent.

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11:45 a.m.

Conciliatory remarks on trade from China's leader helped put investors in a buying mood and stocks were rising sharply on Wall Street at midday.

The Dow Jones industrial average climbed as much as 500 points Tuesday.

Automakers and technology stocks moved higher after President Xi Jinping said he would cut China's auto tariffs and improve intellectual property protection.

Tesla jumped 4.7 per cent and Cisco Systems gained 2.8 per cent.

Investors were looking ahead to testimony before Congress by Facebook CEO Mark Zuckerberg.

The S&P 500 increased 39 points, or 1.5 per cent, to 2,653.

The Dow was up 441 points, or 1.8 per cent, to 24,431. The Nasdaq added 112 points, or 1.6 per cent, to 7,063.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.80 per cent.

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11:05 a.m.

Signs of a thaw in the trade tensions between Beijing and Washington are sending U.S. stock indexes sharply higher on Wall Street.

The Dow Jones industrial average climbed as much as 500 points Tuesday.

Automakers and technology stocks shot higher after President Xi Jinping said he would cut China's auto tariffs and improve intellectual property protection.

Ford rose 2.3 per cent, and Apple and Microsoft each rose 1.7 per cent.

Investors were looking ahead to testimony before Congress later in the day by Facebook CEO Mark Zuckerberg.

The S&P 500 increased 42 points, or 1.6 per cent, to 2,655.

The Dow was up 457 points, or 1.5 per cent, to 24,323. The Nasdaq added 112 points, or 1.6 per cent, to 7,063.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.80 per cent.

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9:35 a.m.

Stocks are opening sharply higher on Wall Street as investors were encouraged to see conciliatory remarks from China's leader over trade.

Automakers and technology stocks posted sizable gains in early trading Tuesday after President Xi Jinping said he would cut China's auto tariffs and improve intellectual property protection.

General Motors climbed 2 per cent, and Apple and Microsoft each rose 2 per cent.

The S&P 500 increased 30 points, or 1.2 per cent, to 2,644.

The Dow Jones industrial average climbed 347 points, or 1.5 per cent, to 24,323. The Nasdaq composite added 86 points, or 1.2 per cent, to 7,035.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.79 per cent.

News from © The Associated Press, 2018
The Associated Press

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