NEW YORK — The latest on developments in financial markets (all times local):
9:35 a.m.
Stocks are rising broadly in early trading on Wall Street as traders hope that the U.S. and China could make progress on trade talks.
President Donald Trump is set to meet China’s lead trade envoy later Friday at the White House. The latest round of talks resumed on Thursday.
Technology companies, which tend to do a lot of business with China, led the way higher. Qualcomm rose 2.6% and Applied Materials added 2%.
The S&P 500 rose 29 points, or 1%, to 2,967.
The Dow Jones Industrial Average rose 312 points, or 1.2%, to 26,812. The Nasdaq rose 99 points, or 1.3%, to 8,051.
Bond prices fell as traders moved money out of lower-risk assets. The yield on the 10-year Treasury rose to 1.71%.
The Associated Press
