Strong economic data, easing trade worries push Wall Street higher

REUTERS: U.S. stocks hit one-month highs on Thursday on hopes of a de-escalation in trade tensions after Washington and Beijing agreed to hold high-level talks next month, while strong U.S. economic data allayed some concerns of a slowdown.

Technology stocks provided the biggest boost to S&P 500, rising 2.05per cent, while financials jumped 2.31per cent, the most among the 11 major S&P sectors."The trade news was the spark that lit this rally and then the economic data extended it," said Michael Antonelli, market strategist at Robert W. Baird in Milwaukee.The ADP National Employment Report, considered a precursor to the Labor Department's more comprehensive jobs report, showed U.S.

"Manufacturing is in a bit of a global slump, but if you look at the other economic data, like the services and jobs reports, none of them point to an economy that is teetering on a recession," Antonelli said.

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