Trade hopes lift Wall Street
Stocks rose in a broad-based rally Wednesday. The Dow rose for a sixth straight session, adding eight tenths percent. The S&P 500 reclaimed the 3,000 level.
Investors welcomed China's move to ease trade tensions by exempting some U.S. goods from additional tariffs.
Gerber Kawasaki CEO, Ross Gerber:
SOUNDBITE: GERBER KAWASAKI CEO, ROSS GERBER (ENGLISH) SAYING:
"Really, the trade war resolution just any resolution will drive these marketse at least 10% higher, and so any hint or hope or positive step that's being taken - today, China took a little conciliatory step, and you know, the markets move higher. The markets are clearly being held back by Trump's policies"
Apple shares provided the biggest boost to the indexes one day after unveiling its new streaming video service at a price that undercuts Disney and Netflix.
GameStop's beleaguered shares plummeted further. Quarterly same store sales plunged as hardware sales dropped. The video game retailer lowered its same-store sales forecast for the fiscal year. The stock has shed 60% this year.
Among the biggest losers on the S&P: Wynn Resorts. The hotel and casino opertor announced a $750 million debt offering.
