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Wall Street advances as industrials jump on trade hopes; Dow rises 160 pts

Earlier, industrial stocks had moved higher as shares of defense contractors rose after President Donald Trump unveiled a new US missile defense strategy

Reuters  |  New York 

US stocks advanced on Thursday as hopes of a resolution to the trade dispute between the United States and China boosted industrial shares and lifted investor sentiment. Stocks spiked higher in afternoon trading after the Wall Street Journal reported that U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan. 30. S&P 500 industrial stocks, which have been sensitive to trade developments, rose 1.7 percent. They held most of their gains even as US ...

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First Published: Fri, January 18 2019. 02:52 IST