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Positive Performance of the U.S. Markets on Friday

Author:
Alexandar Machev
Market News

U.S. stocks clawed back from early losses to close higher Friday after key negotiators cast a positive glow on trade talks. But the S&P 500 and the Nasdaq logged their worst week of 2019 as tensions between the U.S. and China remain elevated in the wake of the Trump administration’s move to raise import duties on $200 billion in Chinese goods.

The Dow Jones Industrial Average rose 114.01 points, or 0.4%, to end at 25,942.37, recovering from a deficit of more than 350 points. The S&P 500 index gained 10.68 points, or 0.4%, to 2,881.40, while the Nasdaq Composite Index climbed 6.35 points, or 0.1%, to 7,916.94.

Trade tensions were front and center as the U.S. increased tariffs as of 12:01 Eastern time Friday, with Beijing vowing to retaliate.

But the stock market bounced back after U.S. Secretary of Treasury Steven Mnuchin indicated that bilateral talks were “constructive” even though an agreement was not reached. The optimistic tone was reinforced by President Donald Trump in a tweet soon after.

 

 

International Financial Markets Department

Euro-Finance Ltd.

forex@eurofinance.bg

www.eurofinance.bg 

*This material should not be considered as a recommendation for buying/selling securities.