Stocks Gain on Hopes for Progress in Trade Talks: Markets Wrap
- China said to remain open to trade agreement; yuan advances
- Treasury yields climb; gold hovers above $1,500 an ounce
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U.S. stocks advanced on optimism that the U.S. and China will make progress in trade talks this week despite some conflicting signals on the outlook. Treasury yields climbed.
The S&P 500 Index ended the day up almost 1% in a rally fueled by speculation that China is still open to a partial deal with the U.S. But in a sign of how tenuous the new-found confidence is, stocks pared gains in the afternoon after a report that China sought to tamp down expectations for progress.