S&P 500, Dow hits new highs at opening bell on U.S-China trade hopes

Published: Nov 7, 2019 9:36 a.m. ET

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SunnyOh

U.S. stocks climbed at the open on Thursday, pushing the S&P 500 and Dow to intraday records, after news reports said that Beijing and Washington would cancel additional tariffs in stages, citing the Chinese Commerce Ministry. The S&P 500 SPX, -0.26% rose 0.4% to 3,089.71. The Dow Jones Industrial Average DJIA, -0.26% advanced 148 points, or 0.5%, to around 27,641. The Nasdaq Composite COMP, -0.29% was up more than 0.5% to 8,454.62. This comes after an earlier report suggested that the meeting between President Donald Trump and President Xi Jinping to sign off on the phase 1 deal could be delayed to December. In company news, shares of PG&E PCG, +2.24% slumped after it recorded a net loss of $1.6 billion in the third-quarter due to $2.5 billion of wildfire-related impairment charges.