Wall Street surges on news of trade progress

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 16, 2018. REUTERS/Brendan McDermid·Reuters· (Reuters)
By Stephen Culp
0

By Stephen Culp

NEW YORK (Reuters) - The S&P 500 and the Dow Jones Industrial average extended earlier gains and the Nasdaq turned positive on Friday on reports of potential progress in easing trade tensions between the United States and its trading partners.

"Any conversations we have with China to come up with a deal and any conversations we have with Mexico would be seen as a win for the U.S.," said Jeffrey Frankel, president at Stuart Frankel & Co, in New York.

The Dow Jones Industrial Average <.DJI> rose 148.81 points, or 0.58 percent, to 25,707.54, the S&P 500 <.SPX> gained 11.7 points, or 0.41 percent, to 2,852.39 and the Nasdaq Composite <.IXIC> added 13.00 points, or 0.17 percent, to 7,819.52.

(Reporting by Stephen Culp; Editing by Frances Kerry)

Advertisement

Recommended Stories