U.S. stocks rise amid trade progress

Source: Xinhua| 2019-02-26 07:16:20|Editor: Li Xia
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A trader works at the New York Stock Exchange in New York, the United States, on Feb. 25, 2019. U.S. stocks ended higher on Monday. The Dow climbed 0.23 percent to 26,091.95, the S&P 500 was up 0.12 percent to 2,796.11, and the Nasdaq rose 0.36 percent to 7,554.46. (Xinhua/Wang Ying)

NEW YORK, Feb. 25 (Xinhua) -- U.S. stocks ended higher on Monday as market sentiment was lifted by the latest progress on U.S.-China trade talks.

The Dow Jones Industrial Average climbed 60.14 points, or 0.23 percent, to 26,091.95. The S&P 500 was up 3.44 points, or 0.12 percent, to 2,796.11. The Nasdaq Composite Index rose 26.92 points, or 0.36 percent, to 7,554.46.

Shares of U.S. equipment maker Caterpillar, a company with high overseas revenue exposure, gained 1.97 percent at the close, among the best performers in the Dow. Boeing, another trade-sensitive stock, rose 0.67 percent.

Seven of the 11 primary S&P 500 sectors closed higher, as gains in groups like materials and technology roughly offset the losses in utilities and real estate.

Shares of General Electric rallied 6.39 percent. Reports on Monday revealed that Danaher plans to buy General Electric's biopharmaceutical business for about 21 billion U.S. dollars.

Wall Street has been keeping a close eye on the news about U.S.-China trade talks these days.

"I think the one great thing about the negotiations that have taken place between China and the United States is they've been consistent," Mark Otto, an experienced New York Stock Exchange trader, told Xinhua.

"So all the time traders have information flowing to them saying that things are going positively between China and the United State, everyone wants to see a deal come out of this," he added, when commenting on the recent market performances.

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