Stocks ended the day higher. The Dow jumped more than 350 points after the U.S. and China agreed to trade discussions next month. The S&P 500 increased 1.30% while the Nasdaq advanced 1.75%.
"You have to be careful as we come up to 3,000 on the S&P 500," said JJ Kinahan, chief market strategist at TD Ameritrade. "I think we're going to have a tough time breaking through it unless there is some news other than they're going to talk."
The VanEck Vectors Semiconductor ETF climbed 3% as Advanced Micro Devices rose 1.8%. On Semiconductor gained 2.6%. Bank stocks such as J.P. Morgan Chase and Citigroup each closed more than 2% higher while trade bellwethers Caterpillar and Boeing rose 3.3% and 1%, respectively. "Both sides agreed they should work together and take practical actions to create favorable conditions for the negotiations," according to a CNBC translation of the statement.
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