Ma­jor US stock in­dexes hit records

Times-Herald (Vallejo) - - NEWS - By Alex Veiga

More en­cour­ag­ing signs that trade talks be­tween the U.S. and China are on track kept in­vestors in a buy­ing mood Tues­day, nudg­ing the ma­jor stock in­dexes to record highs for the sec­ond straight day.

Re­tail­ers and other com­pa­nies that rely on con­sumer spend­ing helped power the mod­est rally, which adds to the mar­ket’s solid start to the week. Only en­ergy, banks and health care sec­tor stocks ended with losses. Bond prices rose, send­ing yields lower.

Bei­jing said Tues­day that ne­go­tia­tors for both sides met ear­lier in the day and agreed to more talks aimed at reach­ing a deal. The lat­est de­vel­op­ment came a day af­ter China an­nounced new guidelines for the pro­tec­tion of patents and copy­rights, which has been a key is­sue in the dis­pute.

In­vestors have grown more hope­ful over trade ne­go­ti­a­tions as the world’s two largest economies con­tinue to keep their rhetoric in check. That’s a clear dif­fer­ence from ear­lier this year, when a sharp com­ment from ei­ther side would seem­ingly si­lence any on­go­ing talks and worsen re­la­tions.

“Gen­er­ally, you can kind of look at the com­men­tary com­ing out and I’d say it leans in the di­rec­tion of progress be­ing made, al­beit at a fairly slow pace,” said Ja­son Pride, chief in­vest­ment of­fi­cer of pri­vate wealth at Glen­mede Trust.

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