Markets Right Now: Trade deal hopes send US stocks higher

NEW YORK (AP) — The latest on developments in financial markets (all times local):

4 p.m.

Stocks are closing broadly higher on Wall Street as traders hoped that a meeting next week between President Donald Trump and President Xi Jinping of China could ease trade tensions between the two economic powers.

Technology and industrial companies, which would benefit the most from easing trade tensions, rose more than the rest of the market Tuesday.

Apple climbed 2.4% and Caterpillar added 2.4%.

European markets jumped after the head of the European Central Bank said it was ready to cut interest rates if necessary.

The S&P 500 index rose 28 points, or 1%, to 2,917.

The Dow Jones Industrial Average added 353 points, or 1.4%, to 26,465. The Nasdaq rose 108 points, or 1.4%, to 7,953.

Bond prices rose. The yield on the 10-year Treasury fell to 2.06%.

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11:45 a.m.

Stock prices are sharply higher on Wall Street following news that the leaders of the U.S. and China will meet face-to-face next week to discuss their long-running trade dispute.

Technology and industrial companies, which would benefit the most from easing trade tensions, rose more than the rest of the market.

Apple climbed 2.4% and Caterpillar added 2.5%.

European markets jumped after the head of the European Central Bank said it was ready to cut interest rates if necessary.

The S&P 500 index rose 30 points, or 1%, to 2,919.

The Dow Jones Industrial Average added 327 points, or 1.2%, to 26,437. The Nasdaq rose 120 points, or 1.5%, to 7,965.

Bond prices rose. The yield on the 10-year Treasury fell to 2.05%.

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9:35 a.m.

Stocks are opening higher on Wall Street following big gains in Europe after the head of the European Central Bank said it was ready to cut interest rates and provide more economic stimulus if necessary.

Technology and communications companies were among the biggest winners in early trading Tuesday. Apple rose 1.5% and Fox rose 1.6%.

The S&P 500 index rose 17 points, or 0.6%, to 2,908.

The Dow Jones Industrial Average added 182 points, or 0.7%, to 26,298. The Nasdaq rose 77 points, or 1%, to 7,923.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.03%.