US stocks rally ahead of China trade talks; Walmart surges
NEW YORK (AP) — Stocks are surging on Wall Street Thursday as China and the U.S. prepare to hold their first trade discussions in months, a potential sign of progress toward ending the trade war between them. Walmart is climbing after the retailer said its sales climbed in second quarter. Metals prices rose sharply, a day after a big drop, and the price of crude oil moved higher.
KEEPING SCORE: The S&P 500 index climbed 26 points, or 1 percent, to 2,845 as of 2:15 p.m. Eastern time. The Dow Jones Industrial Average jumped 425 points, or 1.7 percent, to 25,587 as Walmart and Boeing made big gains. The Nasdaq composite rose 52 points, or 0.7 percent, to 7,826.
The Russell 2000 index of smaller-company stocks added 14 points, or 0.