NEW YORK - Wall Street stocks rocketed higher on Thursday following news that the United States and China will resume high-level trade talks in October, raising hopes of possible progress in the trade war.
Major indices are"hitting their highest levels in more than a month... thanks primarily to the agreement between the US and China regarding another round of trade talks," said a note from Gorilla Trades strategist Ken Berman.The broad-based S&P 500 gained 1.3 per cent to 2,975.97, while the tech-rich Nasdaq Composite Index jumped 1.8 per cent to 8,116.83.
The report from payrolls firm ADP on private-sector hiring estimated August job growth at 195,000 new positions, above analyst expectations. The Institute for Supply Management's monthly non-manufacturing index leapt 2.7 points to a reading of 56.4, overshooting economists' expectations and hitting its highest level since May.
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