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Wall Street, boosted by trade, opens up


Wall Street, boosted by trade, opens up

New York (AFP)

The New York Stock Exchange resumed its record-breaking race on Friday, spurred by encouraging comments from a White House economic adviser on trade talks between Washington and Beijing.

Its leading index, the Dow Jones Industrial Average, advanced by 0.39% at 14:45 GMT, to 27,889.91 points.

The Nasdaq, with strong technological color, gained 0.43% to 8,515.84 points, and the expanded S & P 500 index was up 0.36% to 3,107.75 points.

Wall Street ended near balance on Thursday, the S & P 500 (+ 0.08%) managing to quietly hit a new record while the Dow Jones (-0.01%) and the Nasdaq (-0.04%) remained handicapped by persistent uncertainties on the trade front.

Donald Trump's economic adviser, Larry Kudlow, "let market players engage in new speculation about trade negotiations by declaring (Thursday night) that they were in the final stages," commented Paul Donovan of UBS .

"The financial markets have interpreted this as the fact that an agreement is more likely than the absence of an agreement and that it should be imminent," he added.

Securities of multinationals particularly sensitive to the jolts of the Sino-US discussions benefited: Caterpillar took 1.26%, Boeing 1.23% and Apple 0.46%.

The indicators of the day on the health of the American economy were half-hearted.

According to the US Department of Commerce, retail sales in the United States rose 0.3% in October after the surprise decline of the previous month, including higher spending on cars, gas and food. . It's a bit above analysts' forecasts.

On the other hand, purchases of furniture, clothing and electronics fell, which could be a worrying sign before the end of year shopping season and a drag on US growth in the fourth quarter.

The pace of growth in manufacturing activity in the New York area also slowed somewhat in November after a surprise rebound the month before, according to the Empire State Monthly Index.

On the bond market, the 10-year rate on US debt rose to 1.836% against 1.819% the day before closing.

© 2019 AFP

Source: france24

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