U.S. stocks rose on Wednesday after comments from Treasury Secretary Steven Mnuchin’s fueled optimism that the United States and China were close to striking a trade deal, while the tech sector was boosted by chipmaker Micron’s upbeat results.
“We were about 90% of the way there (with a deal) and I think there’s a path to complete this,” Mnuchin said in an interview to CNBC.
Tech stocks were the biggest gainers among the 11 major S&P sectors, with a 1.53% jump, while the trade-sensitive industrial index rose 0.17%.
“Any good news on trade is good news for the equity markets. As long as the two countries are negotiating, it’s a good thing and that’s what is moving markets at this time,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.
via Reuters 
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.