<p class="title">US stocks leapt higher on Thursday, with investors taking heart after Chinese authorities suggested they may break the cycle of tit-for-tat retaliations in the trade war with the United States.</p>.<p class="bodytext">The gains put Wall Street in the green for a second straight day. Traders have brushed aside earlier recession fears sparked by falling bond yields.</p>.<p class="bodytext">About a half-hour into the trading day, the benchmark Dow Jones Industrial Average and broader S&P 500 were both up less than 1.1 per cent at 26,310.12 and 2,918.77 respectively.</p>.<p class="bodytext">The tech-heavy Nasdaq added 1.4 per cent, rising to 7,963.53.</p>.<p class="bodytext">All three indexes are still on track to finish in the red for the month, marking their worst performance since May.</p>.<p class="bodytext">In Beijing, a spokesman for China's Commerce Ministry told reporters the next agenda in the trade war should be cancelling President Donald Trump's latest round of tariffs, not retaliation.</p>.<p class="bodytext">"The escalation of the trade war is not beneficial to China and it is not beneficial to the United States," said spokesman Gao Feng.</p>.<p class="bodytext">Shares of Apple and Boeing, both exposed to the Chinese market, both rose about one per cent on the news.</p>.<p class="bodytext">Electronics retailer Best Buy, however, plunged 8.9 per cent despite posting better-than-expected earnings.</p>.<p class="bodytext">The company warned that looming US tariffs on Chinese goods could hit sales.</p>.<p class="bodytext">Elsewhere, the US Commerce Department revised GDP growth figures downward slightly for the second quarter, pointing to lower oil exports and weaker government spending than previously estimated.</p>
<p class="title">US stocks leapt higher on Thursday, with investors taking heart after Chinese authorities suggested they may break the cycle of tit-for-tat retaliations in the trade war with the United States.</p>.<p class="bodytext">The gains put Wall Street in the green for a second straight day. Traders have brushed aside earlier recession fears sparked by falling bond yields.</p>.<p class="bodytext">About a half-hour into the trading day, the benchmark Dow Jones Industrial Average and broader S&P 500 were both up less than 1.1 per cent at 26,310.12 and 2,918.77 respectively.</p>.<p class="bodytext">The tech-heavy Nasdaq added 1.4 per cent, rising to 7,963.53.</p>.<p class="bodytext">All three indexes are still on track to finish in the red for the month, marking their worst performance since May.</p>.<p class="bodytext">In Beijing, a spokesman for China's Commerce Ministry told reporters the next agenda in the trade war should be cancelling President Donald Trump's latest round of tariffs, not retaliation.</p>.<p class="bodytext">"The escalation of the trade war is not beneficial to China and it is not beneficial to the United States," said spokesman Gao Feng.</p>.<p class="bodytext">Shares of Apple and Boeing, both exposed to the Chinese market, both rose about one per cent on the news.</p>.<p class="bodytext">Electronics retailer Best Buy, however, plunged 8.9 per cent despite posting better-than-expected earnings.</p>.<p class="bodytext">The company warned that looming US tariffs on Chinese goods could hit sales.</p>.<p class="bodytext">Elsewhere, the US Commerce Department revised GDP growth figures downward slightly for the second quarter, pointing to lower oil exports and weaker government spending than previously estimated.</p>