Dow Hits Six-Day Win Streak as China Makes Tariff Exemptions
Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average extended its winning streak to six days Wednesday, closing above 27,000 after China said it would allow some exemptions to additional tariffs on U.S. imports.
- Apple (AAPL) unveiled three new versions of its iPhone at its annual fall event. Apple is Real Money’s Stock of the Day.
GameStop ( GME) shares sank after the video game retailer posted a wider-than-expected second-quarter loss and lowered its full-year profit guidance.
Wall Street Overview
Stocks finished higher Wednesday, with the Dow Jones Industrial Average marking a six-day winning streak, after China said it would allow some exemptions to additional tariffs on U.S. imports as the two side prepared to restart trade talks.
The Dow finished up 227 points, or 0.85%, to 27,137, trading above 27,000 for the first time since July 30, the S&P 500 rose 0.72% to close just above 3,000 and the Nasdaq gained 1.06%.
In energy news, oil prices were falling after Bloomberg reported that Trump discussed easing sanctions on Iran to help secure a meeting with Iranian President Hassan Rouhani. Former national security advisor John Bolton reportedly argued with Trump over the , leading to his ouster.
Brent crude contracts were down $1.28 to $61.10 a barrel, while West Texas Intermediate contracts, which are more tightly linked to U.S. gas prices, were $1.37 lower at $56.03 a barrel.
Separately, the Energy Information Administration said U.S. crude supplies fell by 6.9 million-barrels for the week ending September 6.