U.S. stocks ticked higher at midday Wednesday, buoyed by signs of progress in U.S.-China trade negotiations and cooler-than-expected inflation data, both of which supported risk appetite.
President Donald Trump announced that a new trade agreement with China had been reached, pending final signatures from him and Chinese President Xi Jinping.
On the economic front, the Bureau of Labor Statistics reported that annual consumer inflation rose to 2.4% in May, slightly below the 2.5% forecast. Core inflation held steady at 2.8%, also coming in softer than expected.
The S&P 500 is aiming for a fourth consecutive gain, while the Dow Jones Industrial Average topped 43,000 — a level last seen on March 5.
Treasury yields fell across the curve, with the 10-year …