Dow ends up over 160 points on China trade deal optimism
U.S. stocks closed solidly higher Wednesday as gains in communication-services and information-technology shares helped to power a rebound for a market that has been weighing the implications of an impeachment inquiry into President Donald Trump. The Dow Jones Industrial Average DJIA, +0.61% finished up 163 points, or 0.6%, at 26,971, propelled higher by shares of Nike Inc. NKE, +4.15%. The S&P 500 index SPX, +0.62% gained 0.6% to 2,985, while the Nasdaq Composite Index COMP, +1.
Trump told reporters that a deal with Beijing could happen "sooner than you think," according to news reports. Markets have been wrestling with U.S. political drama after House Speaker Nancy Pelosi late Tuesday announced an impeachment inquiry into Trumps interactions with his Ukrainian counterpart. On Wednesday, the Ukrainian President Volodymyr Zelensky said he wasn't pushed to investigate former Vice President Joe Biden's son Hunter.
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