Stocks climb on hopes for trade progress

Stocks closed broadly higher Thursday as traders turn hopeful that meetings in Washington will yield progress on the long-running U.S.-China trade dispute. (AP Photo/Mark Lennihan, File)
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NEW YORK (AP) Stocks closed broadly higher Thursday as traders turn hopeful that meetings in Washington will yield progress on the long-running U.S.-China trade dispute.

Markets were encouraged Thursday after President Donald Trump said he would meet with China's lead negotiator on Friday.

Technology stocks posted solid gains.

Skyworks Solutions added 5.2%.

Bed Bath & Beyond soared 21.6% after naming a new CEO, and PG&E plunged 29% after a bankruptcy judge allowed creditors to have input into the restructuring of the troubled utility.

The S&P 500 rose 18 points, or 0.6%, to 2,938.

The Dow Jones Industrial Average climbed 150 points, or 0.6%, to 26,496.

The Nasdaq added 47 points, or 0.6%, to 7,950.

Bond prices fell.

The yield on the 10-year Treasury rose to 1.66%.