Stocks jump as China and U.S. trade tensions cool Stocks on Wall Street were higher from the outset after China's Ministry of Commerce said that the leaders of the U.S. and Chinese trade talks held a phone call in the morning and agreed to hold another round of negotiations in Washington, D.C. at the beginning of next month. The trade progress gave a lift to all of the major averages, with the S&P gaining over 1% and the Nasdaq adding nearly 2%. ECONOMIC EVENTS: In the U.S., ADP reported private payrolls increased 195,000 in August. Initial jobless claims edged up 1,000 to 217,000 in the week ending August 31. Second quarter productivity growth was unrevised at the same 2.3% clip from the preliminary report. Markit's services PMI fell to 50.7 in the final August reading from a 50.9 preliminary figure. The ISM services index rose 2.7 points to 56.4 in August, which was much better than projected. Factory orders rose 1.4% in July after a 0.5% rebound in June. TOP NEWS: Match Group (MTCH) closed 4.5% lower after Facebook (FB) announced the launch of Facebook Dating in the U.S. SunTrust analyst Youssef Squali, however, said he views the selloff as a buying opportunity, telling investors that Match's portfolio approach of brands, the "under-penetration" of the category in most markets served, and its leadership position in most markets should allow it to continue to show "healthy growth" with relatively limited impact from Facebook's dating product. Further, he believes "some negative reputational overhang" from the last couple years may prevent mass adoption of Facebook's service. Shares of Slack Technologies (WORK) were under pressure on Thursday, dipping 3.2% following the company's first quarterly report as a public company. Commenting on the quarter, Morgan Stanley analyst Keith Weiss acknowledged that the results were likely a miss compared to "lofty buy side expectations," while his peer at William Blair recommended investors buy shares on weakness. MAJOR MOVERS: Among the notable gainers was Global Blood Therapeutics (GBT), which gained 10.9% after the FDA accepted for filing the company's New Drug Application seeking accelerated approval for voxelotor and indicated that it is not currently planning to hold an advisory committee meeting to discuss the application. Also higher was Signet (SIG), which rose 26.9% after the jeweler reported better than expected results and raised its full-year profit forecast. Among the noteworthy losers was TeleNav (TNAV), General Motors' (GM) current navigation provider. Its stock plunged 44.8% after GM announced a partnership with Google (GOOG, GOOGL) for an in-vehicle infotainment system that will be rolled out worldwide beginning in 2021. Also lower were shares of Livongo Health (LVGO), which, similarly to Slack, declined following its first quarterly report as a public company. INDEXES: The Dow rose 372.68, or 1.41%, to 26,728.15, the Nasdaq gained 139.95, or 1.75%, to 8,116.83, and the S&P 500 advanced 38.22, or 1.30%, to 2,976.00. Symbols: $MTCH $FB $WORK $GBT $SIG $LVGO $TNAV $GOOGL $GOOG $GMSource: (thefly.com)Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page.