NEWS: U.S. stocks closed higher on trade optimism

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U.S. stocks closed higher Wednesday, boosted by promising progress in the U.S. -China trade talks, but Chinese officials said U.S. stocks cut gains after China lowered its expectations for this week's talks.
All three major U.S. stock indices closed higher, but Chinese officials said they were surprised and uneasy that the U.S. blacklisted some Chinese companies this week. After Beijing lowered its expectations of significant progress in trade negotiations with the U.S. this week, U.S. stocks shrank their gains.
Bloomberg reported that China was still open to some trade agreements with the United States, which boosted investor sentiment at the beginning of the session.
On Wednesday, the Financial Times quoted unnamed sources as saying that Chinese officials were proposing to increase annual purchases of U.S. agricultural products.
"A partial trade agreement with China will at least pave the way for a larger agreement in the future," said Tim Ghrisky, chief investment strategist at Inverness Counsel. "Every day we receive different tweets and the market will move in different directions. Today's Twitter is more profitable and the market is higher.
The minutes of the September meeting of the Federal Reserve showed that most policy makers supported last month's interest rate cuts, but were generally more concerned about the risks associated with the Sino-US trade war and the slowdown in global economic growth in other geopolitical issues, and they were deeply divided about what those risks meant to the U.S. economy.


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