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US Stocks Rise on Trade Deal Hopes     12/12 09:23

   Stocks moved higher in early trading on Wall Street Thursday as investors 
jumped on a statement from President Donald Trump that the U.S. is getting 
close to a "big deal" with China.

   NEW YORK (AP) -- Stocks moved higher in early trading on Wall Street 
Thursday as investors jumped on a statement from President Donald Trump that 
the U.S. is getting close to a "big deal" with China.

   Wall Street has been watching closely for any developments in the ongoing 
trade negotiations all week as the nations head for another escalation. A new 
round of U.S. tariffs on Chinese goods will kick in on Sunday and raise the 
prices of popular products including laptops and cellphones. Investors are 
hoping that enough progress is made to prompt a delay from Washington.

   Banks helped lead the gains as bond prices fell, sending yields higher. Bank 
of America rose 1.5%. Higher yields allow banks to charge more lucrative 
interest rates on mortgages and other loans. The yield on the 10-year Treasury 
rose to 1.84% from 1.79% late Wednesday.

   Technology companies also made strong gains. Broadcom rose 2.5%. 

   Real estate companies and utilities lagged the market in another sign that 
investors were shifting money away from safe-play investments.

   KEEPING SCORE: The S&P 500 index rose 0.6% as of 10 a.m. Eastern time. The 
Dow Jones Industrial Average 173 points, or 0.6%, to 28,084. The Nasdaq rose 
0.5%. The Russell 2000 index of smaller company stocks rose 0.6%.

   TAKEOFF: Delta Air Lines rose 3.8% after the most profitable U.S. carrier 
gave investors a surprisingly good profit and revenue forecast for 2020. The 
company said it expects sustained demand for air travel and stable prices for 
jet fuel.

   SPREADING LUV: Southwest Airlines 1.8% after it reached a deal with Boeing 
for compensation over the grounding of the 737 Max aircraft. It will also share 
about $125 million with its workers.

   CASH REGISTERS RINGING? Friday's retail sales report from the Commerce 
Department will offer investors a solid measure of the economy's health in a 
week dominated by uncertainties over trade. Economists expect retail sales to 
rise in November. The measure gives more insight into consumer spending, which 
has been among the brighter spots in the economy helping to push growth. 


(AG)

 
 
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