Wall Street rises on trade hopes, deal to avoid government shutdown


NEW YORK (Reuters) – Wall Street rallied on Tuesday as investors were heartened by a tentative congressional spending deal to avoid another government shutdown and by positive developments in the U.S.-China trade negotiations.

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 8, 2019. REUTERS/Brendan McDermid

All three major U.S. stock indexes gained more than 1 percent, and the S&P 500 traded above its 200-day moving average for the first time since early December.

President Donald Trump said he would be willing to let the March 1 tariff deadline slide as top U.S. officials arrived in Beijing for high-level talks later in the week to hammer out a solution to the trade dispute between the world’s two largest economies.

Congress cobbled together a tentative bi-partisan border security deal on Monday to avert another government shutdown, but the White House indicated that Trump has not yet decided whether to support it. Funding…

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