wall street rises on tech gains, trade hopes

by:Kenwei      2019-09-12
(Reuters)-U. S.
On Wednesday, as the rise in chip maker Micron boosted the tech industry and stocks rose, Treasury Secretary Steven Mnuchin\'s comments raised hopes that the United States and China would make progress in trade negotiations.
\"We are about 90% away (with a deal)
\"I think there is a way to get this done,\" Mnuchin said in an interview with CNBC . \".
Market participants want the two sides to resolve their differences quickly because their fierce trade war has had an impact on global growth.
Earlier in the day, President Donald Trump said he was \"absolutely likely\" to meet with Chinese leader Xi Jinping to reach an agreement to prevent him from imposing tariffs in China that he threatened to impose.
Trump is expected to meet with Xi at the G20 summit in Japan this weekend.
This will be the first time the two leaders meet. to-
Since trade talks between their countries broke down in May, they are facing a meeting.
\"The tariff war remains a major headwind for the global economy,\" said Craig Elam, a senior market analyst at OANDA in London.
\"I am optimistic that we will see the progress of the Group of 20, at least enough to postpone further tariffs, which is certainly positive for the market.
Micron Technology shares rose 14.
2%, increase the Philadelphia semiconductor index 3. 5% higher.
The company said it had resumed part of its shipments to China Telecom equipment maker Huawei Technology Co. , Ltd. and that its chip demand is expected to resume later this year.
Technology stocks are the biggest gainers in 11 major S & P Industries, up 1.
49% jump and trade-
Sensitive industrial index rose 0. 35%. At 11:14 a. m.
The Dow Jones industrial average rose 58. 76 points, or 0. 22%, at 26,606.
98, the S & P 500 index rose 6. 74 points, or 0. 23%, at 2,924.
The Nasdaq composite index rose 53. 63 points, or 0. 68%, at 7,938. 34.
Promote science and technology development
Shares of Apple, Microsoft and Amazon rose. com Inc.
The energy industry rose 2 in other industries.
14% as oil prices rise after a power outage at a major U. S. refineryS.
East Coast and industrial data show that,S.
Crude oil inventories fell more than expected. [O/R]
The highest gain in the S & P 500 was 1.
The health care industry fell by 14% due to losses from Johnson & Johnson, Pfizer and Merck
So far, the benchmark index has risen 6% in June and reached a record high last week, mainly because of the hope that the Fed will cut interest rates to cope with the impact of the US economic crisis. S. -China trade war
However, the stock market fell sharply on Tuesday after the Fed chairman delayed pressure on Trump to cut interest rates.
Despite this, the market is still fully expected to cut interest rates in July and believes that the possibility of cutting interest rates by half is 25%. point move.
The biggest drop in the S & P 500 was in General Mills Inc.
Food packaging companies missed 4% of their quarterly sales estimates.
The number of advance problems exceeded 1. 53-to-
The ratio of the New York Stock Exchange is 1, by 1. 41-to-
The ratio of NASDAQ is 1.
The S & P index recorded five new 52-
Nasdaq hit 13 new highs and 60 new lows.
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