Wall Street starts higher on fresh hopes of trade breakthrough

Wednesday, 09. October 2019 15:30

US equities were on course to reverse losses from earlier sessions as the major stock indices opened in the green on Wednesday. Investors' concerns seemed to have been somewhat relieved following reports about Beijing coming to Washington on Thursday equipped with real proposals for the long-awaited breakthrough in trade negotiations. Apparently, the Chinese delegation remains open to a partial agreement despite the US move that threatened to further aggravate otherwise sensitive relations.

The Dow Jones jumped 0.63% as the session started with tech making the most of the rally. Intel and Microsoft led the surge advancing nearly 1.50%. The Nasdaq 100 kicked off the session bouncing 0.96% with semiconductors recording the biggest gains. NXP Semiconductors and Applied Material Inc. pulled the index up as they rose 1.72% and 1.65%, respectively, while Nvidia and Advanced Micro Devices followed closely behind. The S&P 500 rose 0.67% as tech and airline companies dominated the index.

The euro rose 0.21% against the greenback, going for 1.09794 at 9:30 am ET.

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Breaking the News / GG