Growth in US services sectors accelerated in August, rebounding from its weakest level in nearly three yearsNew York — US stocks surged on Thursday on expectations of a de-escalation in trade tensions after Washington and Beijing agreed to hold high-level talks in October, while strong US economic data eased fears of a domestic slowdown.
Alternating signs of improvement and deterioration in the US-China trade war, often based on tweets and comments from Trump, have repeatedly sparked volatility on Wall Street in recent months. Another private survey showed growth in US services sectors accelerated in August, rebounding from its weakest level in nearly three years, as new orders rose to their highest level since February amid trade worries.
Sectors viewed as defensive declined, with the S&P utilities index, real estate index and consumer staples index all down.
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