MARKETS: U.S. stocks move broadly higher as investors grew more hopeful that U.S. and China could make some progress in their latest round of trade negotiations.
U.S. stocks moved broadly higher Wednesday as investors grew more hopeful that the U.S. and China could make some progress in their latest round of trade negotiations.
Technology stocks, including Microsoft and Apple, led the gains. The sector has been suffering most of the week because of uncertainty over the talks. Many of the companies rely on China for revenue and their supply chains.Bond yields rose in another sign that investors were shifting to higher risk assets. The yield on the 10-year Treasury rose to 1.56% from 1.53% late Tuesday.
VERY VOLATILE: The sharp shifts in trade war rhetoric and actions have made for an extremely volatile market over the last few months. Investors are still hoping for a trade deal, but are not expecting it to come any time soon. Despite the gains Wednesday, stocks are still on track for their fourth weekly loss in a row as uncertainty hangs over the markets.
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