US stock indexes higher, but below session lows on Wednesday, with investors retreating shortly before closing, despite optimism over US-China trade and reassuring signs about politics in the UK.
The Dow rose 0.64 percent to 24,527 points, the S & P 500 gained 0.54 percent to 2,651 points and the Nasdaq rose 0.95 percent to 7,098 points.
US President Donald Trump told Reuters in an interview the day before that trade talks are moving forward with China. Traders said China made its first US grain purchase of soybeans since Washington and Beijing agreed on a temporary trade truce this month.
Trump also said she would intervene in the case against the Huawei executive if it helped secure a trade deal. While investors are still wary of market volatility between now and the March 1 deadline for a trade deal, they look optimistic about the latest news.
“All that Trump says is a negotiating stance, but we would like to receive statements based on facts and figures. This approach is making China think twice about their tough stance,” said Ernesto Ramos, managing director of shares at BMO Global Asset Management.
“This uninterrupted pressure from Trump is causing China to give up ground. That’s what’s driving the market.”