Shares up on hope Trump-Xi meeting will ease trade tensions

U.S. stocks closed mostly, though modestly, higher Thursday as investors focused optimistically on a weekend meeting between President Trump and China's Xi Jinping at the G20 Summit.

China has, however, listed the removal of Huawei from the U.S. banned list as a demand for a trade deal, according to the Wall Street Journal.

Shares of Boeing fell after the Federal Aviation Administration uncovered a new software issue with the beleaguered Max jet, a fresh hurdle that is likely to further delay the jet from returning to service.

Health care and consumer stocks offset the decline in Boeing prices: Walgreens Boots Alliance shares traded higher after beating quarterly profit estimates; L Brands shares gained on the company's cost containment plans.

Ford Motor shares rose after the carmaker said it will cut 12,000 jobs in Europe and introduce a new car line there.

Ticker Security Last Change Change %
BA THE BOEING CO. 215.97 -1.01 -0.47%
WBA WALGREENS BOOTS ALLIANCE, INC. 48.01 -0.39 -0.81%
LB n.a. n.a. n.a. n.a.
F FORD MOTOR CO. 15.42 -0.14 -0.90%

The yield on the benchmark 10-year U.S. Treasury slipped to 2.02 percent.

Commodity prices were mixed: Crude oil prices edged up 0.12 percent to $59.45 per barrel; gold fell 0.33 percent to $1,419.70 per ounce.

In economic news, the government reported that the final reading on first-quarter GDP came in at 3.1 percent, matching expectations.

Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 227,000, the Labor Department said on Thursday. Data for the prior week was revised to show 1,000 more applications than previously reported.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35457.31 +198.70 +0.56%
SP500 S&P 500 4519.63 +33.17 +0.74%
I:COMP NASDAQ COMPOSITE INDEX 15129.089569 +107.28 +0.71%

In Asia on Thursday,  China's Shanghai Composite added 0.7 percent, Hong Kong's Hang Seng jumped 1.4 percent and Japan's Nikkei rose 1.2 percent.

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In European markets, London's FTSE slipped 0.1 percent, Germany's DAX added 0.4 percent and France's CAC was lower by 0.1 percent.