NEW YORK (AP) –Stocks closed sharply higher on Wall Street as the U.S. and China reached a partial deal on trade and said they would continue negotiating.
President Trump agreed to suspend an increase in tariffs on $250 billion in Chinese goods due to kick in Oct. 15. In exchange, China agreed to boost purchases of U.S. farm products.
Technology and industrial companies led the gains. The Dow rose 319 points, although the index was up 500 points just as Trump announced the deal.
The S&P rose 32 points, or 1.1%, to 2,970. The Nasdaq rose 106, or 1.3%, to 8,057.