Stocks Rise as Trump Teases Trade Deal

Stocks are closing with solid gains Wednesday after President Trump indicated a trade deal with China could happen soon, the AP reports. The comment from Trump, along with strong numbers on the housing market, helped stocks overcome early losses. Technology companies, which have strong business ties to China, were the biggest winners. Chipmaker Nvidia rose 3.3% and Microsoft gained 1.4%. Banks rose as bond yields went up. Citigroup gained 2.2%. The yield on the 10-year Treasury rose to 1.73% from 1.63% Tuesday. Nike rose 4.2% after its quarterly profit beat analyst estimates. The S&P 500 gained 18 points, or 0.6%, to 2,984. The Dow Jones industrials gained 162 points, or 0.6%, to 26,970. The Nasdaq rose 83 points, or 1.1%, to 8,077. All three indexes are modestly higher for the third quarter. (More stock market stories.)