Markets Right Now: Renewed trade hopes send stocks higher

NEW YORK (AP) — The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are opening broadly higher as traders became more hopeful that a trade deal between the U.S. and China was making progress.

Technology and industrial companies were among the biggest winners early Wednesday. Texas Instruments climbed 2.5% and Union Pacific added 1.7%.

Investors were encouraged by a report that Washington and Beijing were closer to agreeing on tariffs that would be rolled back as part of an initial deal. That came a day after President Donald Trump cast doubts on prospects for a deal this year.

The S&P 500 rose 13 points, or 0.4% to 3,107.

The Dow Jones Industrial Average added 150 points, or 0.5%, to 27,651. The Nasdaq rose 38 points, or 0.5%, to 8,561.

Bond prices fell. The yield on the 10-year Treasury rose to 1.74%.