NEW YORK: U.S. stocks rose on Thursday on hopes that top-level U.S.-China trade talks would yield at least a partial deal, while a rise in Apple's shares also boosted the market.
A senior U.S. Chamber of Commerce official said U.S. and Chinese negotiators were working toward an"early harvest" of confidence-building agreements, including one to avoid currency manipulation. "But there seems to be an acceptance that this thing may not be finished. The negotiations could have less of a short-term impact on the market."Apple Inc rose 1.2per cent, lifting the technology sector by 0.6per cent, after Longbow Research upgraded the company's stock to"buy", citing higher iPhone 11 demand.
Stock markets have been rankled in recent weeks by weak economic indicators showing a contraction in U.S. manufacturing and a bleak reading on business activity, bolstering bets of another interest rate cut by the Federal Reserve to combat a slowdown.
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