Wall Street rallies amid US-China trade talks

US equities advanced amid a new round of trade talks between China and the US.

The Dow Jones Industrial Average on Thursday jumped 150.66 points, or 0.57 per cent, to 26,496.67. The S&P 500 increased 18.73 points, or 0.64 per cent, to 2,938.13, Xinhua news agency reported.

The Nasdaq Composite Index was up 47.04 points, or 0.60 per cent, to 7,950.78.

Ten of the 11 primary S&P 500 sectors finished higher, with energy and financials up 1.28 per cent and 1.02 per cent, respectively, leading the gainers. Utilities, however, fell 0.12 percent, the only decliner among the groups.

China and the US kicked off on Thursday a new round of high-level consultations in Washington to address their differences on outstanding economic and trade issues.

This round of high-level economic and trade consultations is scheduled for Thursday and Friday. The two teams had previously started working-level negotiations.

"Traders will likely be hanging on every statement, or report having to do with the talks," analysts at Zacks Investment Research said in a note on Thursday.

On the data front, for the week ending October 5, US initial jobless claims, a rough way to measure layoffs, declined by 10,000 to 210,000, the Department of Labor said on Thursday.

Economists polled by MarketWatch estimated new claims would total a seasonally adjusted 220,000.

US consumer price index for all urban consumers was flat in September, as increases in the indexes for shelter and food were offset by declines in the indexes for energy and used cars and trucks, the US Bureau of Labor Statistics reported on Thursday.

( With inputs from IANS )