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On Friday, American shares headed north, with the S&P 500 braced for reporting its best quarterly outcome for more than nine years, backed by optimism over the latest round of trade talks between China and America.
Treasury Secretary Steven Mnuchin told that America held constructive negotiations in Beijing. Meanwhile, Chinese state news agency informed that the two sides negotiated relevant agreement documents, achieving new progress.
Next week a Chinese delegation headed by Vice Premier Liu He is going to come to Washington for another round of negotiations.
Trade-sensitive industrials went up by 0.65%, while chipmakers having a large revenue exposure to China, jumped too, with the Philadelphia chip index soaring by 1.13%.
As for the broader technology sector, it soared by 0.46%.
The previous week growth fears were driven when the major US bank gave up projections for interest rate lifts this year and the US Treasury gain curve reversed for the first time since 2007, which appears to be a historical sign of a meltdown.
ET the Dow Jones Industrial Average managed to rally by up to 0.35% hitting 25,806.93. As for the S&P 500, it surged by 0.24% showing 2,822.26. The Nasdaq Composite headed north by 0.35% ending up with 7,696.03.
Latest data revealed that American consumer spending tacked on in January and income soared a bit in February, suggesting that the American economy was rapidly losing momentum after surge speeded down in the fourth quarter.
DowDuPont headed south by 2.1% after brokerages decreased their price targets on the chemical company, referring to bad weather as well as margin pressures.
In addition to this, Celgene Corp ascended by 6.4% right after proxy advisory company Institutional Shareholder Services underpinned counterpart drugmaker Bristol-Myers Squibb Co's vote in favor of a takeover of the company.
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…
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…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
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