On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
Dow inches up
On Friday, the Dow managed to conclude the trading session up on upbeat mood after American leader told that a trade agreement with China is real.
As a matter of fact, the Dow Jones Industrial Average soared by 0.70%. As for the S&P 500, it surged by about 0.62%. The Nasdaq Composite rallied by 0.91%. Eventually, the Dow concluded up for an eighth week in a row.
In a sign that China and America were still committed to coping with their differences on trade, China’s Prime Minister extended his visit to America to proceed with negotiations with American rivals.
Tech equities rallied due to profits in Intel and Intuit.
As a matter of fact, Intuit managed to tack on by 6.8% having reported fiscal second-quarter outcomes on Thursday. They topped forecasts made by Investing.com.
As for Intel, it managed to go up by 2.1% following a positive assessment from Morgan Stanley.
Morgan Stanley had Intel's stocks upgrade from equal-weight to overweight and also ramped up its price objective from $55 to $64 on hopes that the chip producer is going to be one of the key winners when spending on cloud computing goes up.
Kraft Heinz went down by up to 27.5% having revealed on Thursday that the SEC had come up with a probe into the company's accounting practices. Moreover, the company also posted a quarterly loss of $15.4 billion.
Energy equities concluded the trading day up because American crude prices surged on expectations that a US-China trade pact would back global economic surge, thus powering oil demand.
Western Digital, DISH Network, and Intuit turned out to be amount the top-notch S&P 500 gainers for the trading session.
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.