Stocks notched solid gains on Wall Street on Thursday after news that the U.S. and China plan to hold talks next month gave investors fresh optimism that the world’s largest economies may yet find a way to resolve their costly trade war. Markets have been rattled this summer as the longstanding trade conflict escalated and past rounds of negotiations failed to yield any progress. Investors fear that uncertainty over the conflict and the fallout from tariffs goods imposed by both sides will exacerbate a slowdown in global economic growth and hurt corporate profits.Financial markets were also bolstered by positive economic data showing that companies are still hiring at a solid pace and that productivity rose at a healthy rate last quarter. Technology stocks led the gains for a second day in a row as investors again fed a bigger appetite for riskier holdings. Chipmakers were among the standouts. Intel rose 2.7% and Nvidia climbed 5.6%. Apple rose 1.4%. Banks moved broadly higher as bond yields rose, which gives them more leverage to charge higher interest rates on loans and garner more profit. JPMorgan Chase rose 2.9% and Bank of America gained 3.1%. Consumer-focused companies also rose broadly. Nike, which stands… Read full this story
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