Wall Street rebounds on trade hopes

Video Credit: Reuters Studio
Published on December 4, 2019 - Duration: 01:11s

Wall Street rebounds on trade hopes

Wall Street bounced back Wednesday on investor optimism for an interim trade deal with China.

Fred Katayama reports.

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Wall Street rebounds on trade hopes

Stocks on Wall Street rose for the first time in four sessions Wednesday.

Spurring them higher: President Donald Trump's remarks that trade talks with China were going "very well." Energy stocks led the broad-based rally, pushing the S&P 500 up more than half percent.

Edward Jones investment strategist, Nela Richardson: SOUNDBITE: EDWARD JONES INVESTMENT STRATEGIST, NELA RICHARDSON (ENGLISH) SAYING: "Investors should expect more volatility.

So more of the same next year.

It doesn't wash away with an interim deal or a tweet or a change in rhetoric.

What investors should look for is actual change in actions like a removal or roll back of the existing tariffs and no new tariffs." Shares of online travel agency Expedia among the biggest gainers on the S&P 500.

Its CEO and finance head resigned after clashing with the board over strategy.

Johnson & Johnson helped lift the Dow.

The drug maker said recent tests showed its Baby Powder was free of asbestos.

Earlier this year, the FDA reported trace amounts of the material in the product.

Shares of Alphabet rallied.

Google CEO Sundar Pichai will immediately take over as CEO of the parent company now that Larry Page and Sergey Brin are stepping aside.

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