Join today and have your say! It’s FREE!
We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}

Join today with :

or

By providing my email, I consent to receiving investment related electronic messages from Stockhouse.
Sign in with existing account
Please Try Again
{{ error }}

Sign In With :

or

Password Hint : {{passwordHint}}
Forgot Password?
Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Stocks Draw Strength from Hope of Imminent Trade Deal

MU

Stocks rallied on Friday as traders grew more optimistic over the possibility of a limited trade deal between China and the U.S.

The Dow Jones Industrials hurtled skyward 364.35 points, or 1.4%, to 26,861.02

The S&P 500 improved 42.82 points, or 1.5%, to 2,980.62. The gains put the Dow and S&P 500 on track to snap a three-week losing streak.

The NASDAQ Composite leaped 129.93 points, or 1.6%, to 8,080.72

Big tech shares such as Facebook, Amazon, Netflix and Google-parent Alphabet all gained more than 1%. Bank stocks also gained steam as Bank of America and J.P. Morgan Chase rose more than 1.5% each. Apple jumped 1.6% and hit an all-time high.

Chipmakers rose broadly. Micron Technology gained more than 2% along with Xilinx.

On the data front, the University of Michigan's consumer sentiment index came in at 96 for October, topping a Dow Jones estimate of 92.

President Donald Trump told reporters on Thursday that talks between the two countries were going “really well.” His comments came after he tweeted that he would meet with Chinese Vice Premier Liu He at the White House on Friday. The meeting is scheduled to take place at 2:45 p.m. ET.

Prices for the benchmark 10-year U.S. Treasury lost much ground, raising yields to 1.74% from Thursday's 1.67%. Treasury prices and yields move in opposite directions.

Oil prices gained 47 cents to $54.02 U.S. a barrel.

Gold prices dropped $14.60 to $1,486.30 U.S. an ounce.





×

StockTalk
Get our FREE StockTalk Investor Guides by sector as they are released!

Stay on top of sector specific news, get industry leaders insights and our best content, delivered to your email.

You are already a member! Please enter your password to sign in.