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Home / Business / Stocks rise modestly as investors parse conflicting economic data and China trade headlines

Stocks rise modestly as investors parse conflicting economic data and China trade headlines



U.S .. the stocks rose on Friday as the major benchmarks point to their strongest weekly gains in a month, and investors analyze the optimistic stocks on US-China trade developments and conflicting data on the US economy.

quadruple witching, the simultaneous expiration of futures on stock indices and options on stock indices, as well as individual futures and stock options.

How were the main indexes worth?

The Dow Jones Industrial Average

DJIA, + 0.69%

increased by 35 points, or 0.1

%, to 25.749, while the S & P 500 index

SPX, + 0.57%

has climbed 9 points, or 0.3%, to 2.815. The NASDAQ composite index

COMP, + 0.91%

advanced 53 points to 7.683, with a gain of 0.7%.

For the week, the Dow is set for a weekly 1.3% gain, while the S&P 500 index is set to rise by 2.8%, while the Nasdaq is rising 3.8% over the last five trading days. Earnings would mark the greatest weekly gain from the period ending February 15, according to FactSet data.

What are the benchmarks doing?

The Dow was weighed down this week by Boeing Inc .

BA, + 2.53%

struggles linked to the base of its 737 Max 8 and Max 9. The performance of the broader market, and the technological shares in particular, were more robust after the data that show that US workers Demand continues to increase and consumer confidence increases.

Investors are also digesting comments from Chinese Premier Li Keqiang, Beijing's number 2 leader after President Xi Jinping, who expressed optimism about reaching a trade agreement between China and the United States. which fits both parties.

He also denied allegations that the country used its technology to spy on other countries, attempting to place one of the key issues that stand between the United States and China in a trade agreement.

"This is not how China behaves. We have not done it and we will not do it in the future," Li said in a comment translated at the conclusion of the National People's Congress on Thursday 19659002. He added that the parts could be several weeks away from a tariff agreement, but described China as "very responsible and reasonable". Separately, US Treasury Secretary Steven Mnuchin, speaking to journalists after his Senate testimony in front of a finance committee, said that no date was set for a meeting between Xi and Trump to complete an agreement, adding that " There is still a lot of work to do ".

Bloomberg News a day ago said that a meeting that had been provisionally scheduled for the end of March would be rejected in April.

Trade negotiations between the two largest economies of the globe have been the main problems for investors because a heated war between the two has the potential to damage economies around the world.

Meanwhile, the Bank of Japan left interest rates unchanged, as expected, while still maintaining purchases of Japanese government bonds.

Separated from the comments on trade, China emphasized the weakness of the world's second largest economy and promised the implementation of ways to increase it, including cutting interest rates and the reserve ratio of the banks.

Which data are in focus?

Manufacturing activity in the state of New York expanded at a slower pace than expected, the Empire State index of the New York Fed dropped to a reading of 3.7 in March from the # 39; 8.8 of the previous month, a low neighbor of two years. Economists expected a reading of 10, according to an Econoday survey.

U.S. Industrial production increased by 0.1% in February, below the 0.4% forecast by economists, according to a MarketWatch survey. The January figure, however, was revised to show a decline of 0.4%, rather than a decline of 0.6% as previously estimated.

The report also showed capacity utilization slightly down to 78.2% in February, from 78.3% in January.

Job openings in the United States rose to 7.58 million in January, according to the Department of Labor, the third highest level ever recorded.

Consumer sentiment rose in March, to 97.8 from 93.8 in February, according to a preliminary reading of the consumer confidence index of the University of Michigan. The reading was above the 95 level expected by the economists interviewed by MarketWatch.

What are the strategists saying?

"The highest move this morning was led by [China premier Li Keqiang’s] comments" that the Chinese government was committed to taking the necessary stimulus measures to support the world's second largest economy, Brent Schutte, Northwestern's chief investment strategist Mutual Asset Management, said MarketWatch.

"You are seeing lower capitalization companies doing well, which indicates a risky state of mind on Wall Street," he added, pointing to strong consumer confidence data as a reason to believe that Expansion of the US economy has more space to function.

Pierre Veyret, ActivTrades technical analyst, said that "this feeling of risk was built mainly on the basis of widespread optimism following the recent statement by President Trump on a" very responsible and reasonable China. " United States also added that it will have news of a trade agreement in China in the next 3-4 weeks and that it could lead to an extension of this year's rally on stocks. "

" Its quadruple deadline of options, which is likely to cause an increase in volume and volatility, "wrote Peter Cardillo, chief market economist at Spartan Capital Securities.

Which titles are in focus?

Shares of Facebook Inc .

FB, -2.27%

were under pressure after the social media company stated that two senior executives were leaving the company. The stock was down 2.5%. The shares fell 1.9% on Thursday, to the news that the grand jury is conducting a criminal investigation into the data sharing practices of the company.

Amazon Inc .

AMZN, + 0.99%

rose 0.5% at the start of Friday, after KeyBanc Capital increased its rating on the overweight stock.

Boeing shares rose 0.9% but remain down almost 11% for the week.

Bioscrip Inc .

BIOS, -29.80%

shares fell by 30%, after the company announced an agreement to merge with Option Care Enterprises Inc. on a private basis

Shares of Broadcom Inc . increased 10.7% on Friday morning after the chip maker reported first-quarter fiscal profits on Thursday that exceeded expectations.

Shares of Ulta Beauty Inc .

ULTA, + 8.73%

reported a rally of 8.1% after the beauty products distributor reported fourth-quarter fiscal results that exceeded the expectations, while showing an increase in online sales.

Newell Brands Inc .

NWL shares, -1.55%

were brought into focus after chief executive Michael Polk said Thursday night that he would retire from the company at the end of the second quarter. The stock fell by 50.9% on Friday.

Shares of Oracle Corp .

ORCL, -0.42%

fell by 0.7%, following a Thursday night report showing the company software company that exceeded earnings estimates for the third fiscal quarter that exceeded expectations and a prospect that corresponded to the forecasts [19659003] How did the main benchmarks do yesterday?

Thursday, the Dow rose 7.05 points to 25,709.94, a gain of less than 0.1%. The S&P 500 index slipped 2.44 points to 2.808,48, finishing little changed and the Nasdaq Composite Index lost 12.50 points, or 0.2%, to 7.630,91.

How are markets traded elsewhere?

In Asia, equities closed higher on Friday, with the Nikkei 225 in Japan

NIK, + 0.77%

Composite index of Shanghai in China

SHCOMP, + 1.04%

and Hang Seng index of Hong Kong

HSI, + 0.56%

all up more than 0.5%

European equities are also on the rise, with Stoxx Europe 600

SXXP, + 0.59%

adding 0.6%.

In the commodity markets, crude oil prices

CLJ9, -0.43%

were ticking higher, while the price of gold

GCJ9, + 0.55%

increased and the US dollar

DXY, -0.20%

decreased compared to its peers

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