Stocks were adding to recent gains on Wednesday on optimism that the White House may let the March 1 deadline for a trade deal slide.
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U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer will participate in high level talks in Beijing.
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Investors are encouraged by reports that President Trump will sign the spending compromise to prevent another partial-government shutdown, even though it doesn’t include as much money as he wants for border protection.
In economic news, U.S. consumer prices were unchanged for a third straight month in January, leading to the smallest annual increase in inflation in more than 1-1/2 years.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 25602.16 | +176.40 | +0.69% |
| SP500 | S&P 500 | 2756.86 | +12.13 | +0.44% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7450.6814 | +36.06 | +0.49% |
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Cisco Systems will be the Dow component reporting earnings after the markets closes. Coca-Cola reports Thursday morning.
Shares of Activision Blizzard were higher after the company said it would cut 800 jobs. The game publisher reported that news along with a quarterly sales miss and a weak outlook.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| CSCO | CISCO SYSTEMS INC. | 47.64 | -0.25 | -0.52% |
| KO | COCA-COLA COMPANY | 49.75 | +0.09 | +0.18% |
| ATVI | ACTIVISION BLIZZARD INC. | 43.56 | +1.90 | +4.55% |
In Asian markets on Wednesday, China’s Shanghai rose 1.8 percent on trade deal optimism. Hong Kong’s Hang Seng added 1.2 percent, while Japan’s Nikkei surged 1.3 percent.
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In Europe, London’s FTSE added 0.6 percent, Germany’s DAX gained 0.4 percent and France’s CAC rose 0.5 percent.
