US stocks eyed their biggest one-day gain in a fortnight after comments from Chinese officials spurred hopes among investors for a resolution to Washington’s trade war with Beijing.
The S&P 500 was up 1.5 per cent in afternoon trade on Thursday, while the Nasdaq Composite gained 1.7 per cent and the Nasdaq Composite rose 1.4 per cent, giving US stocks a shot at their first weekly gain since July.
Gao Feng, China’s commerce ministry spokesman, on Thursday told reporters he hoped the US would cancel its additional tariffs to avoid an escalation in the trade war.
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