Wall Street gets boost from easing trade concerns, euro zone stimulus

US stocks edge higher as China eases trade tensions

US stocks edge higher as China eases trade tensions

President Donald Trump agreed to delay increased tariffs on billions worth of Chinese goods for two weeks after China exempted tariffs on a basket of USA imports and promised to buy more US agricultural products.

The Dow Jones industrials rose 45 points, or 0.2%, to 27,182 after being up about 170 points earlier.

Wall Street advanced on Thursday, and the S&P 500 ended the session within striking distance of its all-time closing high, buoyed by positive developments on the U.S.

Tokyo's Nikkei 225 index gained 0.8% to 21,759.61 while the Shanghai Composite index also added 0.8% to 3,031.24.

Shares of Google parent Alphabet Inc rose 1.2% after Google reached a $1.1 billion settlement with French authorities to resolve a fiscal fraud probe, and following a legal victory over German publishers over fee demands.

Technology, financial and consumer-focused stocks helped power the modest rally, which extended the market's solid gains from the day before despite losing some momentum in the final hour of trading.

Trump's delay of additional tariffs on Chinese goods comes one day after China said it would exempt 16 types of US products from import tariffs. Chinese importers have made inquiries on prices of certain USA farm goods, a move also seen as a goodwill gesture ahead of upcoming negotiations.

All the major indexes hit a session high on a report that the Trump administration was considering an interim deal with China but quickly pared gains, after CNBC said a senior White House official denied the report. The world's two largest economies have been locked in a year-long battle over Beijing's trade practices that has threatened to push other economies into recession. -China trade scenario and a batch of economic data.

The S&P index recorded 39 new 52-week highs and one new low, while the Nasdaq recorded 79 new highs and 20 new lows.

US crude rose 0.93% to $56.27 in Asia on the day.

Energy stocks fell 0.44% and were the only decliners among the 11 major S&P 500 sectors as oil prices dipped after a meeting of the OPEC+ alliance yielded no decision on deepening supply cuts. It fell $1.65 to settle at $55.75 a barrel on Wednesday.

The yield on benchmark 10-year Treasury notes rose to 1.7730%, the highest in five weeks, extending a sell-off in government bonds that started on September 4. Medical device maker Abbott gained 1.3%.

Stocks moved higher in Asia.

Gold rose $4.30 to $1,498.70 per ounce, silver rose 1 cent to $18.04 per ounce and copper rose 2 cents to $2.62 per pound. The euro strengthened to $1.1073 from $1.1007. Declining issues outnumbered advancers for a 1.07-to-1 ratio on the Nasdaq.

The dollar rose to 108.14 Japanese yen from 107.79 yen on Wednesday.

After a hard August in which concerns about a global recession sparked a scramble into safer assets, investors have been returning to riskier markets this month, encouraged by China and the United States making moves to ease trade tensions and by receding fears of a no-deal Brexit.

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