WALL Street moved higher yesterday, led by tariffsensitive technology and industrial stocks after China extended an olive branch ahead of next month's trade negotiations with the US.
The S&P 500 closed above the 3,000 mark for the first time since 30 July.
Apple provided the biggest boost to the S&P 500 and the Nasdaq the day after it unveiled its latest iPhone upgrade and announced the launch date of its Apple TV Plus streaming service. Its shares rose 3.2 per cent.
The blue-chip Dow, led by Boeing, posted its sixth consecutive daily gain. Boeing added 3.6 per cent.
China announced tariff exemptions for a basket of US goods, viewed by many investors as a show of good faith just weeks ahead of planned talks aimed at resolving the trade war.
The Dow Jones rose 227.61 points, or 0.85 per cent, to 27,137.04, the S&P 500 gained 21.54 points, or 0.72 per cent, to 3,000.93 and the Nasdaq Composite added 85.52 points, or 1.06 per cent, to 8,169.68. Chipmaker Micron Technology rose 2.2 per cent after Longbow Research upgraded the stock to "buy".
(c) 2019 City A.M., source Newspaper