Markets Right Now: Walmart leads gains for US stock indexes

Markets Right Now: Walmart leads gains for US stock indexes

U.S. shares rebounded on Thursday after Chinese officials announced they would send a senior negotiator to the United States later this month to resume trade talks, the first publicly announced meeting on the escalating dispute in weeks.

At 9.52am EDT the Dow Jones Industrial Average was up 323.31 points, or 1.28 per cent, at 25,485.72, the S&P 500 was up 18.96 points, or 0.67 per cent, at 2,837.33 and the Nasdaq Composite was up 45.31 points, or 0.58 per cent, at 7,819.43.

A 2.9 percent drop in Caterpillar and a 1.4 percent slide in Boeing weighed on the Dow Jones Industrial Average.

Marine transportation, precision instrument, and mining-oriented issues comprised those that gained the most by the close of play.

Wall Street pros cited a possible thaw in the ongoing trade war between the world's two largest economies for lifting the mood of the market, which has stalled recently due to fears that the tit-for-tat tariff skirmish between China and the US would harm the global economy. E-commerce giant Alibaba fell 2.6 percent, was down 5.8 percent and Baidu 2.3 percent.

The S&P 500 index rose 26 points, or 0.9 percent, to 2,844.

High-flying technology stocks Microsoft, Google-parent Alphabet and Facebook fell between 0.6 percent and 1.2 percent, weighing on the technology sector overall.

The Russell 2000 index of smaller-company stocks gained 0.9% to conclude at 1,685.

Bond prices fell. The yield on the 10-year Treasury rose to 2.89 percent.

Second-quarter earnings have been stronger than expected, with 79 per cent of the 460 S&P 500 that have reported so far beating analyst expectations, according to Thomson Reuters I/B/E/S.

Chinese officials announced they would send a senior negotiator to the United States in late August to resume trade talks, the first public meeting on the dispute in weeks as the trade conflict intensifies.

Meanwhile, Beijing has lodged a complaint to the World Trade Organization to help determine the legality of USA tariff and subsidy policies.

The two sides haven't held talks since early June. And import levies are set to rise again next week, as both countries have threatened larger increases.

Up until now, the USA economy and stock market have been able to shrug off the trade war headwinds.

"It's clear that trade is not having as big a negative impact as investors had previously feared", says Alec Young, managing director of global markets research at FTSE Russell.

Related News:

Most liked

Tesla files lawsuit against Ontario government over electric vehicle rebate program
The company added "the decision has also already inflicted substantial harm on Tesla Canada". Tesla has called for the application to be heard on "an urgent basis".

Netflix is showing adverts between episodes
Nobody likes ads during regular shows and Netflix is reportedly trying to insert video promos in between episodes of a show. This isn't like Hulu, where you watch content with the full knowledge that you're going to be fed commercials between acts.

'Hacky hack hack': Australia teen breaches Apple's secure network
The teen reportedly downloaded over 90 gigabytes of data and accessed customer accounts without exposing his identity. He later admitted to the police that he had "dreamed of" working for Apple , a claim that was affirmed by his lawyer.

Unsafe food storage faulted in Chipotle illnesses
The CDC notes that the toxin usually develops when someone eats food that has been stored at the wrong temperature after cooking. He also said restaurants would be adding a "recurring employee knowledge assessment" to their daily food-safety routines.

AJ McCarron of Buffalo Bills suffers right collarbone fracture
Allen led Buffalo to points on all three of his drives - two field goals and a 2-yard touchdown pass to Rod Streater . Allen dazzled with both his arm and his footwork, going 9 of 13 for 60 yards, a touchdown, and a 104.6 passer rating.

Trump Mulls Privatizing Afghanistan War
Prince first started talking up the plan a year ago , ahead of President Trump's announced escalation. "I know he's frustrated". President Trump is unhappy with the situation in Afghanistan.

Magnitude 8.2 natural disaster strikes in the Pacific
The epicenter was located 167 miles (270 km) east of Levuka in Fiji and 275 miles (443 km) west of Neiafu in Tonga. No injuries or damage were immediately reported.

Argument over Aretha Franklin biopic leads to shooting
A shooting broke out in Virginia on Thursday due to an argument dealing with the casting of Aretha Franklin's biopic. Hatton also was treated for injuries and transported to a local jail, where he was being held without bail.

Gordon announces return to Browns
In five games past year , Gordon had 18 receptions for 355 yards and a touchdown. Josh Gordon could play in the Browns' regular-season opener.

Rishabh Pant ready for debut at Trent Bridge?
Even Hardik Pandya's dismissal at the close of play, which left India 307 for six at stumps, should not dampen his team's spirits. After losing the second Test at Lord's by an innings and 159 runs, the visitors are demoralised and must first put up a fight.

Coles stores closed as nationwide checkout glitch causes chaos
Supermarket chain Coles is known for its catchy slogan (watch above) in its advertising material: "Down, down, prices are down". In a statement, the company attempted to explain the glitch, which has stopped the processing of payments at registers.

Sainz to take Alonso's McLaren seat next season
One alternative is allowing Vandoorne to migrate to Toro Rosso-Honda, filling a gap in the Red Bull talent pipeline. He's now 11th in the drivers standings after 12 races, his best result a fifth place finish in Azerbaijan in April.

CDC: 72,000 died from drug overdoses in 2017, 42,000 from opioids
Particularly significant were the decreases seen in Vermont and MA , two states with relatively high rates of overdose mortality. Investigators attribute the deaths to the opioids fentanyl and carfentanil - synthetic painkillers far more potent than heroin.

Who is Omarosa? And why is she causing such a stir?
Before joining the administration, Manigault Newman handled African-American outreach for Trump's presidential campaign. Trump has denied this, saying on Twitter that "I don't have that word in my vocabulary , and never have".

Scientists have discovered a piece of amber is an amazing ancient creature
Then while visiting dozens of other cycads, it may happen upon a female cycad and deliver that pollen. Every penny we collect from donations supports vital investigative and independent journalism.