1604 ET - Stocks rise for the third straight day on growing hopes that the U.S. and China can reach an agreement to lower punitive tariffs. President Trump says his team was "actively" talking to Beijing about trade, though Beijing played down hopes for an imminent compromise. The Magnificent 7 stocks all rise, while consumer staples are the only S&P 500 sector to lose ground. IBM drops 6.6% after posting quarterly results, weighing on the Dow Industrials' gains. PepsiCo loses 4.9% as earnings miss expectations. DJIA rises 486 points, or 1.2%, to 40093, the S&P 500 gains 2% to 5484 and the Nasdaq jumps 2.7% to 17166. (patrick.sullivan@wsj.com)
(END) Dow Jones Newswires
April 24, 2025 16:04 ET (20:04 GMT)
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