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Sept. 12, 2019, 10:37 a.m. EDT

Dow and broader market stage early morning jump on Sino-American trade reports

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By Mark DeCambre

U.S. stocks jumped early Thursday, driving the three main benchmarks to session highs amid hope of a near-term resolution between Beijing and Washington. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.07% gained 116 points, or 0.4%, to 27,256, the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.48% advanced 0.5% at 3,016, while the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +1.29% traded 0.8% higher at 8,232. Gains for U.S. stocks coincided with a report from Bloomberg News , which cited unnamed Trump administration officials, indicating that the U.S. and China have discussed offering a limited trade agreement to China that could forestall some U.S. tariffs in exchange for Chinese commitments on intellectual property and agricultural purchases. The Bloomberg report comes amid a separate report from the Wall Street Journal , which said China is aiming to "narrow the scope of its negotiations with the U.S.," putting discussions about intellectual property rights on a separate track in a bid to achieve a trade resolution in some form. The news reports come after President Donald Trump late Wednesday said he would delay increasing tariffs until Oct. 15 on China products that were set to increase on Oct. 1, as a conciliatory act and avoid an increase on the 70th birthday of the formation of the People's Republic on Oct. 1. Separate reports implied that China was set to buy soybeans and pork from the U.S. again. American and Chinese representatives are slated to meet in early October to restart stalled trade negotiations and avert any further escalation of animosities between the economic superpowers.

Read the full story:
Dow logs 7th gain in a row on renewed trade optimism, ECB stimulus

US : Dow Jones Global
-17.53 -0.07%
Volume: 545.14M
May 29, 2020 5:14p
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
US : U.S.: Nasdaq
+120.88 +1.29%
Volume: 4.24M
May 29, 2020 5:16p

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