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Trade hopes lift Wall Street

Video Credit: Reuters Studio - Duration: 01:09s - Published
Trade hopes lift Wall Street

Trade hopes lift Wall Street

Wall Street was led higher by tariff-sensitive technology and industrial stocks Wednesday after China extended an olive branch ahead of next month's trade negotiations with the United States.

Fred Katayama

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Stocks rose in a broad-based rally Wednesday.

The Dow rose for a sixth straight session, adding eight tenths percent.

The S&P 500 reclaimed the 3,000 level.

Investors welcomed China's move to ease trade tensions by exempting some U.S. goods from additional tariffs.

Gerber Kawasaki CEO, Ross Gerber: SOUNDBITE: GERBER KAWASAKI CEO, ROSS GERBER (ENGLISH) SAYING: "Really, the trade war resolution just any resolution will drive these marketse at least 10% higher, and so any hint or hope or positive step that's being taken - today, China took a little conciliatory step, and you know, the markets move higher.

The markets are clearly being held back by Trump's policies"

Class="kln">Apple shares provided the biggest boost to the indexes one day after unveiling its new streaming video service at a price that undercuts Disney and Netflix.

GameStop's beleaguered shares plummeted further.

Quarterly same store sales plunged as hardware sales dropped.

The video game retailer lowered its same-store sales forecast for the fiscal year.

The stock has shed 60% this year.

Among the biggest losers on the S&P: Wynn Resorts.

The hotel and casino opertor announced a $750 million debt offering.




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