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BUSINESS Wednesday 13 november 2019
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Stocks rally on Wall Street ahead of Trump speech on trade

By STAN CHOE 500 was up 0.4%, as of 11:40
Associated Press a.m. Eastern time. Earlier, it
NEW YORK (AP) — Stocks crossed above the 3,100
climbed Tuesday, and in- level for the first time.
dexes rode a rising tide to- The Dow Jones Industrial
ward more records. Average climbed 46 points,
All but one of the 11 sec- or 0.2%, to 27,738, and the
tors that make up the S&P Nasdaq composite gained
500 were higher in morning 0.5%.
trading, led by health care YIELDS: The yield on the 10-
and technology compa- year Treasury was at 1.93%,
nies, and two stocks rose the same level that it was
in the index for every one at late Friday. It was below
that fell. Momentum for the 1.50% in early September
market has been upward and has been rallying with
for more than five weeks as confidence in the econo-
worries about the U.S.-Chi- my's strength.
na trade war have eased, Reports have shown that
among other factors. the job market is still grow-
President Donald Trump ing, which should help
may give more clues about households keep spend-
how trade talks are going ing at a strong clip. Such
this afternoon, when he Specialist Anthony Rinaldi, left, and trader Fred DeMarco work on the floor of the New York Stock spending makes up the
gives a speech at the Eco- Exchange, Tuesday, Nov. 12, 2019. bulk of the economy, and
nomic Club of New York Associated Press the expectation is that it
on trade and economic can more than make up for
policy. Uncertainty in the ment they're negotiating. solidly and corporate earn- Tuesday to its lowest price the weakness in manufac-
market has climbed after Besides expectations for a ings reports for the summer in more than three months. turing that the trade war is
U.S. and Chinese officials stopgap deal on the trade that weren't as weak as ex- Treasury yields were steady causing.
gave conflicting signals war, stocks have jumped pected. after trading resumed fol- DON'T CROSS THE STREAMS:
last week about whether recently due to interest- The rising confidence in lowing Monday's holiday Disney rose 1.6% on the day
they've agreed to any tar- rate cuts by the Federal markets has meant fewer in observance of Veterans that its highly anticipated
iff rollbacks as part of the Reserve, data showing the buyers piling into the safe- Day. streaming video service,
"Phase One" trade agree- economy is still growingly ty of gold, which dropped KEEPING SCORE: The S&P Disney Plus, launched. q

World Bank cuts back project in China's restive Xinjiang

Associated Press monitored for adherence it said. "When allegations China says they are being There was no immediate
BEIJING (AP) — The World to bank standards. are made, the World Bank offered training to reduce comment from China on
Bank is cutting back a $50 "In addition, the project takes them seriously and re- poverty and extremism. the bank's decision.
million project in China's will be placed under en- views them thoroughly." Critics say they are political The World Bank project
restive Xinjiang region fol- hanced supervision to en- While the partner schools reeducation camps where aims to upgrade the cur-
lowing a review prompted sure that all applicable account for just 1% of the inmates are held indefinite- riculum, teacher skills and
by allegations of abuses. Bank standards are ad- project's financing, the ly without due process, sub- post-graduation employ-
A statement from the bank hered to," the bank said. move is politically signifi- ject to abuse and forced to ment opportunities offered
dated Monday said it The statement a review cant because China has renounce their traditional by five long-established
would close a component was ordered after serious been criticized for con- religion and culture while public vocational colleges
of the project to support allegations" about the part- fining more than 1 million pledging loyalty to Com- in Xinjiang, the bank said.q
vocational colleges involv- ner schools were received members of Muslim minor- munist Party leader Xi Jin-
ing partner schools that in August, but did not de- ity ethnic groups in Xinjiang. ping.
were the subject of the scribe them in detail.
abuse claims. "The World Bank's work is
It said although visits to the driven by core principles
partner schools "did not of inclusion, with special
substantiate the allega- consideration for the pro-
tions," they were too widely tection of minorities and
dispersed to be properly other vulnerable peoples,"