The US stock market jumped higher Thursday, as President Donald Trump is due to meet Chinese Vice Premier Liu He.
Trade negotiations between the United States and China are resuming Thursday for the first time since July. Trump called it a “big day” for the negotiations in a tweet, adding “they want to make a deal, but do I?”
Trump also announced he would meet with Liu at the White House on Friday.
Stocks had started the session more or less flat, but a rally kicked off following the tweet. The Dow traded some 150 points, or 0.6%, up. The S&P 500 and the Nasdaq Composite also rose 0.6%.
The trade negotiations come amid an onslaught of headlines and developments in US-China relations this week.
The US blacklisted 28 Chinese organizations over their alleged involvement in human rights violations. On Wednesday, a Reuters report said Chinese official weren’t optimistic about progress in the talks because the US blacklisting Chinese organizations hurt Beijing’s goodwill.
A Bloomberg report Wednesday meanwhile fueled hopes that a partial trade could be reached.