Tuesday, 14 July 2020
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Wall St Gets Tech Boost as Reports Bolster Hopes of Trade Deal

Wall Street rose on Wednesday on the back of gains in technology stocks, as investor sentiment was boosted by reports indicating an ease in trade tensions between the United States and China ahead of pivotal talks on Thursday.

China was still open to agreeing to a partial trade deal with the United States, despite the inclusion of top Chinese artificial intelligence startups in a trade blacklist, according to a Bloomberg report.

Separately, the Financial Times said Beijing was offering to increase its annual purchases of U.S. agricultural products.

Shares in Microsoft Corp and Apple Inc rose about 1% and were among the biggest boosts to the S&P 500 . The technology sector rose 1.08%.

Chipmakers with a sizable exposure to China also gained, with the Philadelphia SE Semiconductor index up 1.45%.

At 11:25 a.m. ET the Dow Jones Industrial Average was up 126.91 points, or 0.49%, at 26,290.95, the S&P 500 was up 18.97 points, or 0.66%, at 2,912.03 and the Nasdaq Composite was up 62.32 points, or 0.80%, at 7,886.10.

Source : Reuters

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