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Stock market trades higher Wednesday with tech taking lead, Boeing jumps on Qatar deal
U.S. stocks traded cautiously higher one day after the broad S&P 500 index turned positive for the year after tumbling in the aftermath of the April tariff roll-out.
At midday in New York, the Dow Jones Industrial Average was up 14 points, near 42,154, while the S&P 500 was 12 points higher, near 5,898. The tech-heavy Nasdaq jumped 0.7%, or about 130 points, hitting 19,140.
Stocks got a boost earlier in the week after the U.S. and China announced a 90-day pause on some tariffs . Effective Wednesday, U.S. tariffs on Chinese goods drop to 30% from 145% and Chinese tariffs on U.S. goods fall to 10% from 125%. Lower tariffs reduce the chance the U.S. economy will fall into a recession, economists said.
The benchmark U.S. 10-year note ticked up fractionally to 4.507% midday.
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This article originally appeared on USA TODAY: Stock market trades higher Wednesday. Tech leads, Boeing inks deal