New York (AFP)
The New York Stock Exchange advanced Friday at the opening of the last session of August, still driven by the de-escalation of Sino-US trade tensions.
The leading index of the New York Stock Exchange, the Dow Jones Industrial Average, rose 0.42% to 26,473.72 points around 13:45 GMT.
The Nasdaq, with strong technological color, gained 0.39% at 8,004.61 points and the expanded S & P 500 points index also appreciated by 0.39% to 2,936.04 points.
Wall Street had clearly finished in the green the day before with the hope of a resumption of negotiations between the first two world economies: the Dow Jones had taken 1.25% and the Nasdaq had gained 1.48%.
US President Donald Trump said Thursday that US and Chinese trade officials were to meet during the day, and said the two sides had been in touch last week.
Earlier Thursday, the spokesman for the Chinese Ministry of Commerce suggested that Beijing may not respond to the latest US customs surcharges on its products, arguing that the trade war was threatening global growth and that a resumption of negotiations was still possible.
"The hand extended by China is invigorating the market for the moment," commented Patrick O'Hare Briefing.
A new tariff increase on Chinese goods is due to take effect Sunday in the United States, while Beijing has planned to impose new tariffs on 75 billion US imports in two stages, September 1 and 15 December.
"Trade rhetoric has more weight than action and raises multibillion-dollar stock prices without there being a fundamental reason for it," said O'Hare of Briefing.
Investors were also waiting for several economic indicators released later in the day, including the University of Michigan's consumer confidence survey over the past month.
In the bond market, the 10-year US debt rate rose to 1.52%, but remained below the two-year yield on US Treasuries (1.54%).
This phenomenon, which economists call "inversion of the yield curve", is often considered as a leading indicator of recession.
© 2019 AFP