Back in Black. Markets were able to recover from early losses on Wednesday: The Dow Jones Industrial Average was 0.4% higher near midday, while the S&P 500 rose 0.6% and the Nasdaq Composite had gained 1%. Despite some downbeat economic data this morning, investors were feeling hopeful that delays in certain tariffs could ease tension between the U.S.
and China and lead to more fruitful trade negotiations between the two.Alibaba Group Holding was up 0.5% to $175.77 after reporting strong earnings despite worries about China’s economy.Applied Materials rose 3.8% to $41.52 after Susquehanna upgraded it to Positive. The company reports its earnings on Thursday.Legg Mason rallied 2.1% to $35.40. The Wall Street Journal reported that Trian Fund Management may initiate an activist campaign at the company.
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