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New York (APA / Reuters) – Wall Street came to a more conciliatory conclusion after a turbulent stock market year. Signs of progress in the trade dispute between the United States and China have prompted investors to buy.
The Dow Jones index rose 1.2% to 23,327 points. S & P broadly increased by 0.9% to 2,507 positions. The Nasdaq technology exchange index gained 6.635 points, up 0.8%. However, the trade was meager considering New Year's Eve. In Europe, most stock exchanges have closed, including Frankfurt. The day of the year is not exchanged either.
US President Donald Trump showed himself optimistic on Saturday for a swift resolution of the Chinese trade dispute. He had a "long and very good conversation" with Chinese President Xi Jinping, he wrote on Twitter. There had been "great progress".
Overall, however, 2018 was the worst in ten years for US stock markets. The Dow has lost 5.6% in the last twelve months, the S & P 6.2% and the Nasdaq 3.9%. For the three indices, it was the largest annual percentage decline since 2008. The decline in December was also significant: in points, the Dow and the S & P 500 in 1931 suffered such a fall.
The market was strong for a good part of the year, said TD Ameritrade strategist JJ Kinahan. But in the last quarter, the situation was a little out of control. There were too many unknowns, market participants had become nervous. This will continue at the beginning of the new year.
On the New York Stock Exchange has changed about one billion shares of the owner. 2,685 values increased, 1,112 decreased and 157 remained unchanged. On the Nasdaq, 2,029 shares closed their sales, 1,118 fewer and 127 remained unchanged, or 2.08 billion shares.
US credit markets rallied and yields fell in return. The 10-year government bonds rose from 5/32 to 103-14 / 32. The yield fell to 2.7253%. Bond, 30, dropped from 6/32 to 106-18 / 32 and reported 3.0390%.
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