Markets Right Now: Stocks rise on optimism on trade talks

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

9:45 a.m.

Stocks are rising at the open on Wall Street Tuesday after U.S. Treasury Secretary Steven Mnuchin confirmed that China-U.S. trade talks were due to resume in two weeks’ time.

Technology stocks were the early market leaders. Apple rose 1% after analysts at Jefferies upgraded the stock to a “buy.”

Consumer-focused stocks also rose. CarMax gained 1.1% after the auto dealer’s quarterly results beat analysts’ estimates.

Mnuchin late Monday confirmed top-level trade talks are still set for the week of Oct. 7.

The S&P 500 rose 14 points, or 0.5%, to 3,006. The Dow Jones Industrial Average gained 119 points, or 0.4%, to 27,069.

The Nasdaq rose 44 points, or 0.6%, to 8,156.

Bonds rose slightly. The yield on the 10-year Treasury slipped to 1.69%.

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