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Dow Wraps up Eighth Weekly Gain on US-China Trade Hopes By Investing.com




© Reuters.

Investing.com – The Dow closed the week strongly on Friday, marking a week of gains for the eighth week, while the optimism that the United States and China were closing in a deal commercial has triggered a sea of ​​greenery through Wall Street. [19659004] The rose of 1.74%, the addition of 1.09%, while it gained 0.61%.

The Dow closed 3.1% for the week, with the S & P 500 index of 2.5% and the Nasdaq of 2.4% higher. The closing levels for the three indices were the best since the beginning of November.

A few weeks before the deadline of March 1

, President Donald Trump offered an optimistic update on the second round of trade talks between China and the United States, pushing operators to shoot

Trump said that the trade negotiations "are going very well ", stressing that the United States is closer than ever to" having a real trade agreement "with China.

Without a trade agreement guaranteed by March 1, the United States could implement additional tariffs on China. Trump said, however, that he would be "honored" to remove tariffs if an agreement could be reached.

Newfound optimism about trade drove energy supplies sharply, as traders feared a prolonged trade war would hurt economic growth China, the world's largest consumer of oil, softened oil demand.

Trade was not only weighed on the market climate but also on company profits.

Deere tractor provider (NYSE 🙂 has published a rare increase in raw material costs and concerns about tariffs and trade policies. His shares fell 2%.

Financials, mostly bank stocks, also led the market to rise thanks to the solid earnings of Goldman Sachs (NYSE :), JPMorgan (NYSE 🙂 and Citigroup (NYSE :).

Newell Brands (NASDAQ :), a consumer product maker, plunged 18% after reporting that it fell below Investing.com's estimates. The company has also identified commercial tensions as factors that damage results.

In technology, a surge of the semi-final led by Nvidia following the chip manufacturers and indications of the day before.

NVIDIA (NASDAQ 🙂 closed 2% in $ 157.34, but well above the session highs of $ 163.87 as Wall Street doubted the company's lead for a big leap in the fourth quarter in one uncertain scenario for many of his business.

Morgan Stanley said that Nvidia is facing several challenges in different parts of the business at the same time, which "create a somewhat idiosyncratic risk, and many variables that are" unknowable ".

Top Gainers and Losers of S & P 500 today:

Arista Networks (NYSE :), CenturyLink Inc (NYSE 🙂 and American International (NYSE 🙂 were among the first S & P 500 earners for the session.

Newell Brands (NASDAQ :), Mattel (NASDAQ 🙂 and Applied Materials (NASDAQ 🙂 were among the worst for S & P 500 perfo rmers of the session.

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