Dow rises 350 points after China says it wants trade talks

Stocks jumped on Thursday after China said it wished to resolve its protracted trade dispute with the world’s largest economy with a “calm” attitude.

By midday, the Dow Jones Industrial Average was trading 350 points higher, or 1.4 percent. The S&P 500 gained 1.3 percent, while the Nasdaq Composite advanced 1.5 percent.

“There’s a talk scheduled for today at a different level,” President Donald Trump said in an interview with Fox News Radio, without elaborating.

“Let’s see what the end product is; that’s what you have to judge it by,” Trump said.

When asked about its ongoing trade war with the U.S., China’s commerce ministry said Thursday that it was opposed to escalating trade tensions, hinting Chinese authorities will not retaliate against the latest round of U.S. tariffs.