U.S. stocks opened higher Wednesday on news that Trump would be willing to intervene in the case of a Huawei executive arrested in Canada — if it would help a trade deal with China.
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Shares also gained from a report that China is preparing a plan to give foreign companies greater access to local markets.
In addition, worries about geopolitical uncertainty eased after a report from the BBC that British Prime Minister Theresa May will survive a no-confidence vote.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 24720.74 | +350.50 | +1.44% |
| SP500 | S&P 500 | 2666.5 | +29.72 | +1.13% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7139.7573 | +107.93 | +1.53% |
London’s FTSE gained 1.3 percent after May said she will fight the leadership challenge. Germany’s DAX added 1.2 percent and France’s CAC added 2 percent.
Chinese and Hong Kong stocks edged higher on Wednesday after Huawei’s chief financial officer was granted bail by a Canadian court, and as President Trump sounded upbeat about a trade deal with China.
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The Shanghai Composite ended the day up 0.3 percent.
Hong Kong’s Hang Seng index closed higher by 1.6 percent.
Japan’s Nikkei soared to finish the session higher by 2.2 percent.
On the economic calendar, November consumer prices came in unchanged, which was right in line with expectations. When you back out food and energy, the core-CPI rose 0.2 percent. That also matched expectations.
The Dow Jones Industrial Average closed lower on Tuesday after a volatile session that saw it rise more than 300 points before plunging more than 500 points over investor fears of a government shutdown.
The blue-chip index fell 53 points. The S&P 500 also fell, while the Nasdaq Composite rose slightly.
Shares initially climbed in morning trading on word that Beijing will cut American auto tariffs and that trade talks between the U.S. and China had restarted.
A stunning, on-camera clash Tuesday in the White House between the president, Nancy Pelosi and Chuck Schumer, the Democratic leaders in the House and Senate, respectively, over border wall funding and a government shutdown raised the prospect of worsening Washington gridlock.
That exchange sent stocks lower.
Fox Business’ Mike Obel contributed to this article.
