Wall Street rises on U.S.-EU trade deal hopes, tech gains
By April Joyner NEW YORK (Reuters) - Wall Street's major indexes rose on Wednesday after U.S. President Donald Trump said he hoped to reach a trade deal with Europe as he met with European Commission President Jean-Claude Juncker. The S&P 500, the Nasdaq and the Dow all hit session highs as both Trump and Juncker struck a conciliatory tone on trade in their statements to reporters
By April Joyner
NEW YORK (Reuters) - Wall Street's major indexes rose on Wednesday after U.S. President Donald Trump said he hoped to reach a trade deal with Europe as he met with European Commission President Jean-Claude Juncker.
The S&P 500, the Nasdaq and the Dow all hit session highs as both Trump and Juncker struck a conciliatory tone on trade in their statements to reporters.
The Dow, which had been weighed by Boeing Inc's
The S&P and the Nasdaq were boosted by gains in the technology sector. Shares of Facebook Inc
Investors noted that strong corporate earnings have helped prop up U.S. stocks despite ongoing concerns about tariffs raising companies' costs and cutting into their profits.
Of the 148 S&P 500 companies that have reported earnings so far, 85.8 percent have topped analyst expectations. If the beat rate holds, it will be the highest on record, dating back to the first quarter of 1994, according to Thomson Reuters I/B/E/S.
"In a nutshell, the market is continuing to be dominated by trade and earnings," said Leo Grohowski, chief investment officer of BNY Mellon Wealth Management in New York. "Those are the two big issues."
The Dow Jones Industrial Average <.DJI> rose 11.22 points, or 0.04 percent, to 25,253.16, the S&P 500 <.SPX> gained 12.46 points, or 0.44 percent, to 2,832.86 and the Nasdaq Composite <.IXIC> added 58.36 points, or 0.74 percent, to 7,899.13.
Shares of HCA Healthcare Inc
However, General Motors Co
Shares of AT&T Inc
NXP Semiconductors NV
Advancing issues outnumbered declining ones on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.15-to-1 ratio favoured advancers.
The S&P 500 posted 32 new 52-week highs and seven new lows; the Nasdaq Composite recorded 59 new highs and 75 new lows.
(Reporting by April Joyner; Additional reporting by Amy Caren Daniel in Bengaluru; Editing by Sriraj Kalluvila and Shounak Dasgupta)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.