Technology shares led the S&P 500 and the Nasdaq higher on Wednesday after remarks by Treasury Secretary Steven Mnuchin rekindled hopes for a de-escalation of U.S.-China trade tensions and brought buyers back from the sidelines.
All three major U.S. stock indexes were up, though off session highs.
Trade-sensitive industrial stocks, led by Boeing Co, provided the biggest lift to the Dow. The S&P 500 and the Nasdaq were set to snap three-day losing streaks, which were driven in part by increasing pessimism as to whether a planned meeting between President Donald Trump and China’s president, Xi Jinping, at the upcoming Group of 20 summit in Japan would yield any progress in the two country’s protracted tariff dispute.
via Reuters
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Alfonso Esparza
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