U.S. stocks rose on Wednesday following comments on trade by Treasury Secretary Steven Munchin that investors read as being optimistic about a deal with China.
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Mnuchin said Wednesday in an interview on CNBC that a U.S.-China trade deal was nearly 90 percent done before talks collapsed, but he remains hopeful talks will get back on track.
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President Trump and Chinese President Xi Jinping are set to meet in Japan during the G-20 summit amid ongoing tensions.
In an interview with Maria Bartiromo on FOX Business, Trump said he would do additional tariffs if the two nations cannot make a deal. He added that his Plan B for China is to take in billions and billions in tariffs.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26614.67 | +66.45 | +0.25% |
| SP500 | S&P 500 | 2923.85 | +6.47 | +0.22% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7946.609239 | +61.89 | +0.79% |
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The race to 2020 officially kicks off on Wednesday with the first Democratic presidential debate of this election cycle as they meet the dozens of contenders hoping to replace Trump as president.
The debates are being held in Miami and are split into two nights. They will start at 9 p.m. ET and end at 11 p.m. ET both nights.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC. | 36.83 | +4.14 | +12.68% |
| INTC | INTEL CORPORATION | 48.19 | +1.34 | +2.87% |
| AMD | ADVANCED MICRO DEVICES INC. | 29.99 | +1.13 | +3.92% |
| GIS | GENERAL MILLS | 50.04 | -3.66 | -6.82% |
Micron Technology jumped after saying it had resumed some shipments to Chinese telecoms equipment maker Huawei Technologies and still expected demand for its chips to recover later this year. Other chipmakers rose.
General Mills slipped after the food packaging company missed quarterly sales estimates, hurt by lower demand for its snacks in North America.
In Asia on Wednesday, China’s Shanghai Composite slipped 0.2 percent, Hong Kong’s Hang Seng added 0.1 percent and Japan’s Nikkei lost 0.5 percent.
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In Europe, London’s FTSE added 0.1 percent, Germany’s DAX added 0.4 percent and France’s CAC gained 0.1 percent.
