Wall St extends gains for third day, trade optimism helps

New York, U.S. stocks rose for a third straight day on Thursday as President Donald Trump said trade talks with China were "moving along nicely," reviving hopes that the two countries can resolve their trade dispute.

Trump said he plans to meet with his Chinese counterpart Xi Jinping at the G-20 summit in Argentina at the end of the month.

The trade-sensitive S and P industrial sector rose 2 percent, with Boeing Co and Caterpillar Inc among companies leading the gains.

The S and P materials index was up 2.7 percent, with DowDuPont Inc surging after its strong results and a $3 billion share buyback.

Apple Inc was up slightly ahead of its results, due after the bell. The technology index rose 0.9 percent, continuing to recover from the recent selloff.

The Dow Jones Industrial Average rose 214.11 points, or 0.85 percent, to 25,329.87, the S and P 500 gained 23.57 points, or 0.87 percent, to 2,735.31 and the Nasdaq Composite added 115.88 points, or 1.59 percent, to 7,421.78.

Technology-related stocks have led the stock market's bull run in recent years. The S and P tech index's 8 percent pullback in October was its worst monthly loss since March 2012.

Advancing issues outnumbered declining ones on the NYSE by a 3.10-to-1 ratio; on Nasdaq, a 3.80-to-1 ratio favored advancers.

The S and P 500 posted 11 new 52-week highs and three new lows; the Nasdaq Composite recorded 31 new highs and 48 new lows.

Source: Saudi Press Agency