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Stocks surge ... Profits prediction ... President’s promise

April 9, 2018

NEW YORK (AP) — U.S. stocks are surging as investors’ fears about a possible trade war between the U.S. and China ease once again. The S&P 500 index gained 46 points, or 1.8 percent, to 2,650 as of 1:10 p.m. Eastern time. The Dow Jones industrial average rose 406 points, or 1.7 percent, to 24,339. The Nasdaq composite jumped 154 points, or 2.2 percent, to 7,069.

NEW YORK (AP) — After weeks of dispiriting talk about trade wars and the threat of inflation, Wall Street is looking forward to some good news: eye-popping profits from Corporate America. Analysts expect companies in the S&P 500 to report a 17 percent jump in earnings per share for the first three months of the year, thanks in large part to lower tax rates and the strong global economy.

WASHINGTON (AP) — President Donald Trump says he’s going to “make it up” to farmers who would be impacted by China’s proposed retaliatory tariffs on U.S. exports. Trump promised during a Cabinet meeting today that American farmers “will be better off than they ever were” over the last eight years, despite China’s threat to place duties on pork and soybean imports from the U.S.

DETROIT (AP) — The U.S. and China are both threatening tariffs over billions of dollars’ worth of products in their escalating conflict over trade. In both cases, what’s not on their lists also says a lot. China, for example, isn’t threatening tariffs on the $1 billion worth of animal skins it imports from the U.S. each year or the largest jets made by Boeing Co.

WASHINGTON (AP) — Facebook CEO Mark Zuckerberg says his company was too slow to spot or respond to Russian interference in the 2016 presidential election. He’s also apologizing for a privacy scandal that allowed third-party apps to harvest the personal data of users without their consent. Zuckerberg is scheduled to testify tomorrow and Wednesday before Senate and House oversight committees.

Update hourly