Stocks rose broadly on Wall Street in afternoon trading Wednesday as investors welcomed China's move to exempt some U.S. products from a recent round of tariffs.
Shares in the iPhone maker, which unveiled a variety of new products and services on Tuesday, were up 2.8%. Chipmaker Intel gained 1.6%. China on Wednesday said it will exempt American industrial grease and some other imports from tariff increases, though it kept in place penalties on soybeans and other major U.S. exports ahead of negotiations next month.
KEEPING SCORE: The S&P 500 rose 0.5% as of 3:32 p.m. Eastern time. The Dow Jones Industrial Average gained 166 points, or 0.6%, to 27,076. The Nasdaq added 0.9%. MIDWEEK MARK: The broader market has gained ground since a wobbly start on Monday. The S&P 500 is coming off two weeks of gains and is on a path to extend its winning streak.
DEEP EXHALE: Shares in tobacco giant Altria Group rose after a brief slide following the Trump administration's announcement that it is looking to ban thousands of flavors used in e-cigarettes amid an outbreak of breathing problems tied to vaping. State and federal health authorities are investigating hundreds of breathing illnesses reported in people who have used e-cigarettes and other vaping devices. No single device, ingredient or additive has been identified. Altria rose 0.6%.
So what’s trump doin⁉️
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