World News: 22:01 GMT Wednesday 15th May 2019. [Yahoo Business News Feed via SPi World News]
U.S. stocks closed higher on Wednesday as reports that U.S. President Donald Trump would hold off on imposing tariffs on imported cars and parts eased growth concerns even as economic data disappointed investors. All three major U.S. indexes saw their second straight day of gains following Monday's steep sell-off, but the S&P 500 remained more than 3% below its all-time high reached just over two weeks ago. The prospect of a six-month postponement of tariffs on imported autos and auto parts, along with Treasury Secretary Steven Mnuchin's remarks that he expects trade talks to resume soon in China, was welcome news to investors, who started the session in a selling mood after the underwhelming economic reports.
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