Wall Street rose for the third straight session on Friday, with hopes running high that the talks between President Donald Trump and Chinese Vice Premier Liu He would culminate in a partial trade deal and delay planned U.S. tariff increases.
Shares of Apple Inc hit a record high and were the biggest boost to the S&P 500 and Nasdaq, while the technology sector was set for its best day in five weeks.
All eyes are now on Trump meeting Liu in the White House at 2:45 p.m. EDT (1845 GMT). The top-level discussions concluded their second day on Friday…
The S&P 500 and Dow Jones indexes looked set to break a three-week losing streak on optimism that the world’s top two economies could cool off their row before more U.S. tariffs kick in next week.
MacDailyNews Note: The latest from the president’s Twitter feed:
One of the great things about the China Deal is the fact that, for various reasons, we do not have to go through the very long and politically complex Congressional Approval Process. When the deal is fully negotiated, I sign it myself on behalf of our Country. Fast and Clean!
— Donald J. Trump (@realDonaldTrump) October 11, 2019
Good things are happening at China Trade Talk Meeting. Warmer feelings than in recent past, more like the Old Days. I will be meeting with the Vice Premier today. All would like to see something significant happen!
— Donald J. Trump (@realDonaldTrump) October 11, 2019