Dow jumps by more than 300 points amid reports that U.S.-China 'narrow differences on trade'
The Dow Jones Industrial Average rose sharply on Tuesday on hope of hope for progress in two-day talks between the the U.S. and China. The Dow advanced 310 points, or 1.3%, at 23,841, the S&P 500 index climbed 1.1% at 2,577, while the Nasdaq Composite Index rose by 1.2% at 6,901. The Wall Street Journal reported, citing sources, that China and the U.S. had narrowed differences in their negotiations on trad, and were establishing a cabinet-level follow-up in talks for some time in January. Investors have been watching for signs of softening in the tensions from trade talks between Beijing and Washington, where have been key drivers for markets. The unexpected appearance of Chinese Vice Premier Liu on the first day of negotiations was praised by the U.S. delegation as a signal of the seriousness of the summit. On Tuesday, reports from WSJ indicated that progress had been made on purchases of U.S. goods and services but didn't offer precise details. In corporate news, shares of Sears Holdings Corp. tanked after reports indicated that the retailer would seek liquidation proceedings in bankruptcy. Shares of Tesla Inc. also were in focus after Oracle Corp. CEO Larry Ellison took a stake worth about $1 billion in the electric-car maker run by Elon Musk. Ellison was recently announced as a new Tesla board member. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.