Markets Right Now: Renewed trade hopes send stocks higher

NEW YORK (AP) — The latest on developments in financial markets (all times local):

11:45 a.m.

Stocks are moving higher as traders become more hopeful that a trade deal between the U.S. and China was making progress.

Technology and industrial companies were among the biggest winners Wednesday. Texas Instruments climbed 2.1% and Union Pacific added 2.5%.

Investors were encouraged by a report that Washington and Beijing were closer to agreeing on tariffs that would be rolled back as part of an initial deal.

Google parent Alphabet rose 1.7% after co-founders Sergey Brin and Larry Page relinquished their management roles.

The S&P 500 rose 21 points, or 0.7% to 3,114.

The Dow Jones Industrial Average added 197 points, or 0.7%, to 27,701. The Nasdaq rose 46 points, or 0.6%, to 8,567.

Bond prices fell. The yield on the 10-year Treasury rose to 1.79%.

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9:35 a.m.

Stocks are opening broadly higher as traders became more hopeful that a trade deal between the U.S. and China was making progress.

Technology and industrial companies were among the biggest winners early Wednesday. Texas Instruments climbed 2.5% and Union Pacific added 1.7%.

Investors were encouraged by a report that Washington and Beijing were closer to agreeing on tariffs that would be rolled back as part of an initial deal. That came a day after President Donald Trump cast doubts on prospects for a deal this year.

The S&P 500 rose 13 points, or 0.4% to 3,107.

The Dow Jones Industrial Average added 150 points, or 0.5%, to 27,651. The Nasdaq rose 38 points, or 0.5%, to 8,561.

Bond prices fell. The yield on the 10-year Treasury rose to 1.74%.

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