Wall Street gains on optimism over possible delay in auto tariffs

- U.S. stocks gained ground on Wednesday after a report that President Donald Trump was set to delay a decision to impose auto tariffs, offering respite to markets worried about slowing global growth after a batch of weak economic data.

Meanwhile, Treasury Secretary Steven Mnuchin said he will likely travel to Beijing soon to continue trade talks with China. “The truth is that we are closer to a trade deal than none. Investors around the world want to see a deal happen, they want to see finality,” said Ken Polcari, managing principal at Butcher Joseph Asset Management in New York.

At 12:38 a.m. ET, the Dow Jones Industrial Average was up 119.14 points, or 0.47%, at 25,651.19. The S&P 500 was up 16.28 points, or 0.57%, at 2,850.69 and the Nasdaq Composite was up 73.64 points, or 0.95%, at 7,808.13. Boeing Co rose 0.8% after Federal Aviation Administration acting chief Dan Elwell told lawmakers he expects the planemaker to submit a software fix for the grounded 737 MAX for approval soon, but added he was concerned by Boeing’s lengthy delay in disclosing a software anomaly.

'Everything is garbage but our toddler president is distracted and unfocused so I guess that counts as a positive economic indicator.' Welcome to 2019 everybody!

And Tomorrow they will lose optimism Friday: they will gain optimism Monday: optimistic again Tuesday: oops, they lose optimism again And so the wheel turns... it’s a joke. Wall Street, CNBC SquawkCNBC MadMoneyOnCNBC

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