Sept. 6 (UPI) — Major U.S. stock markets rose Thursday amid news the United States and China plan to resume trade talks and positive job reports.
The Dow Jones Industrial Average was up 372.68 points or 1.41 percent, while the S&P 500 rose 1.30 percent and the Nasdaq Composite climbed 1.75 percent by the end of trading after officials from the United States and China agreed to another round of meetings “in the coming weeks” as they negotiate an end to the ongoing trade war.
Tech stocks led the gains Thursday as the VanEck Vectors Semiconductor ETF rose 3 percent, Advanced Micro Devices increased 1.8 percent and On Semiconductor was up 2.6 percent.
Common trade bellwethers were also up, with Caterpillar rising 3.3 percent and Boeing increasing 1 percent.
Markets also got a boost from payroll processor ADP’s job report, which showed an increase of 195,000 jobs in the private sector in August.
The report exceeded economists’ predictions that payrolls would grow by 140,000 and has historically been viewed as a potential preview for the U.S. government’s monthly non-farm payroll report.