U.S. stocks rose on Wednesday as gains in chipmaker Micron boosted the technology sector and comments from Treasury Secretary Steven Mnuchin fueled hopes that the United States and China were making progress in their trade talks.
General Mills Inc’s quarterly sales fell short of Wall Street estimates on Wednesday, hurt by lower demand for its Nature Valley and Fiber One snack bars, sending its shares down as much as 10%.
The dollar rose and European shares fell on Wednesday as traders scaled back expectations of an aggressive cut in U.S. interest rates in July, while Wall Street rose on hopes of a China-U.S. trade breakthrough at the G20 summit later this week in Japan.
Oil prices rose about 3% on Wednesday and hit their highest in about a month, buoyed by U.S. government data that showed a much larger-than-expected drawdown in U.S. crude inventories as exports hit a record high, and surprise drops in refined product stockpiles.
Shares of chipmakers rose on Wednesday after Micron Technology Inc forecast a recovery in chip demand in the second half of the year, easing concerns that rising trade tensions would exacerbate a slump in the sector.
U.S. stocks rose on Wednesday after comments from Treasury Secretary Steven Mnuchin’s fueled optimism that the United States and China were close to striking a trade deal, while the tech sector was boosted by chipmaker Micron’s upbeat results.
U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the United States and China were close to a trade deal, CNBC reported.
U.S. stocks opened higher on Wednesday, as chipmaker Micron Technology’s upbeat results lifted technology shares and Treasury Secretary Steven Mnuchin’s comments fueled optimism that the United States and China would strike a trade deal.
U.S. stocks were set to open higher on Wednesday, bouncing back from a 1% drop in the previous session, after Treasury Secretary Steven Mnuchin’s comments fueled optimism that the United States and China would finally strike a trade deal.
French President Emmanuel Macron said on Wednesday he wanted Renault and Japan’s Nissan Motor to strengthen their alliance, with an eye on the fields of electric vehicles and automated driving.
U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the United States and China were close to a trade deal, CNBC reported.
European stocks and U.S. equity futures were higher on Wednesday after a report fueled optimism about progress in U.S.-China trade talks, offsetting disappointment about the size of potential U.S. interest rate cuts.
U.S. stock index futures rose on Wednesday after Treasury Secretary Steven Mnuchin said the United States and China were close to reaching a trade deal, with strong results from chipmaker Micron adding to the upbeat mood.
General Mills Inc on Wednesday reported quarterly sales below Wall Street estimates, hurt by declines in its U.S. snacks business.
The United States “is not looking for victory” with China over trade but wants “a sensible deal that addresses the legitimate issues that we have,” U.S. Commerce Secretary Wilbur Ross said on Wednesday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
