NEW YORK: Wall Street stocks were back on the upswing early Wednesday amid heightened volatility on the latest positive signs in the US-China trade fight.
About 20 minutes into trading, the Dow Jones Industrial Average was up 1.0 percent at 24,610.84.
The broad-based S&P 500 also advanced 1.0 percent to 2,663.21, while the tech-rich Nasdaq Composite advanced 1.3 percent to 7,120.43.
US stocks have been on a rollercoaster in part due to unpredictable and ambiguous events connected to the Beijing-Washington trade negotiations.
The latest indicators have been more upbeat, with a Chinese Huawei executive granted bail in a Canadian court in a closely-watched legal case and a Wall Street Journal report that China was preparing a new economic program to permit greater access to foreign companies in a concession to US President Donald Trump.
“It will be a decidedly positive start for the cash market,” said Briefing.com analyst Patrick O’Hare.
“What has been made clear in prior sessions, though, is that nothing can be taken for granted in that indication as a harbinger of how the rest of the day will unfold.”
US data showed consumer inflation remained modest in November, removing some pressure on the Federal Reserve to continue raising interest rates.
First trades were expected later Wednesday on Tencent Music, the streaming division of Chinese technology giant Tencent. —AFP