Walmart leads gains for US stock indexes
NEW YORK (AP) — Stocks are sharply higher in midday trading on Wall Street following strong results from Walmart and signs of progress in defusing the trade dispute between China and the U.S.
Walmart jumped 10 percent Thursday after reporting stronger sales growth, including online. It also raised its forecasts for the year.
Investors were encouraged to see that China was sending a trade envoy to Washington, which would be the first talks between the two countries since June.
The S&P 500 index rose 26 points, or 0.9 percent, to 2,844.
The Dow Jones Industrial Average rose 360 points, or 1.4 percent, to 25,523. The Nasdaq composite rose 67 points, or 0.9 percent, to 7,841.
Bond prices fell. The yield on the 10-year Treasury rose to 2.89 percent.