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Wall Street profit on trade optimism, progress to prevent government shutdown by Reuters


© Reuters. Trader works on the floor of the New York NYSE

By Amy Karen Daniel

Reuters – Wall Street rose on Tuesday, driven by a tentative deal reached by lawmakers in the US to avoid further shutting down government parts and optimism that the United States and China could reach an agreement during their ongoing trade talks.

However, it was not clear whether President Donald Trump would adopt the deal as congressional aides said it did not contain the $ 5.7 billion he wanted the border wall.

"What investors are taking is that the government remains open, whether the Trump signals on the deal are secondary," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.

"There is a lot of optimism about the trade talks and we hope for some sort of deal."

The talks resumed on Monday, with US Treasury Secretary Stephen Manochin and trade representative Robert Leizer coming to Beijing on Tuesday ahead of high-level talks planned for later this week.

The two largest economies are seeking to issue a deal before March 1, when additional US tariffs on Chinese imports will take effect.

Manufacturers are sensitive to trading rose 0.96 percent, by Boeing (NYSE 🙂 Inc., larva Inc. (NYSE 🙂 and 3M (NYSE 🙂 Co.

Chipmakers, which depend on China for a huge chunk of their revenue, also gained and pushed the Philadelphia chip index higher 1.64 percent. The broader technology sector rose 0.81%.

According to a survey by the Bank of America (NYSE), Merrill Lynch, a survey of US trade managers, according to a survey of Bank of America.

It is only 7 percent from its peak September 20 closing record, driven by optimism on trading, mostly profitable in the fourth quarter of the season and the Ionian federal quarter.

About 71% of S & P companies that generated profits exceeded expectations, according to the IBES data of Refinitiv. But analyst estimates for the first quarter of the year became negative for the first time since 2016.

At 9:41, ET, rose 232.44 points, or 0.93 percent, at 25,285.55. The S & P 500 index gained 22.40 points, or 0.83%, to 2,732.20 and the index rose 65.29 points, or 0.89%, to 7,373.20.

Energy rose 1.63%, the highest in the S & P, after oil prices soared 2% and were supported by OPEC production cuts. [O/R]

Coty Inc surged 14%, and the S & P 500 Index, after JAB Holding said it plans to raise its stake in the cosmetics company.

Electronic Arts Inc (NASDAQ) jumped 4.7 percent after the new game of video game maker royale launched a traction win. Ravel Take-Two (Nasdaq: RSE) lost 5.6% following a downgrade of 5-star ratings.

Gilad Science (Nasdaq: TSK) dropped 4.2% after its liver disease drug failed in a later study.

The number of advanced offerings increased by a ratio of 4.14 to 1 on the NYSE and by a ratio of 4.31 to 1 on Nasdaq.

The S & P recorded a new record of 52 weeks and one new low, while the Nasdaq recorded 39 new records and three new levels.

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