Dow concludes eighth annual gain on US-China business hopes by Investing.com

Investing.com – The Dow closed the week off with an eighth straight week of gains, as optimism over a US-China trade deal sparked a wave of greenery in the United States. Wall Street.

The increase of 1.74%, the added of 1.09%, while the gain of 0.61%.

The Dow finished up 3.1% for the week, with the S & P 500 up 2.5% and Nasdaq up 2.4%. The Dow Jones closing was the best since early November. The S & P and Nasdaq have finished at their highest level since December 3.

Just weeks before the deadline of March 1, President Donald Trump has presented an optimistic update on the second round of trade negotiations between the United States and China, prompting traders to be optimistic about the situation. regards actions.

Trump said the trade talks "went extremely well," noting that the United States was closer than ever to a "real trade deal" with China.

Without a trade agreement reached before March 1, the US could apply new tariffs to China. Trump, however, said it would be "honored" to eliminate tariffs if an agreement could be reached.

The renewed optimism about trade has pushed up energy stocks, traders fearing for a long time that a prolonged trade war would hurt economic growth in China, the world's largest oil consumer, to thwart the demand for oil.

Trade was weighed not only on market sentiment, but also on corporate profits.

Deere's trucking supplier (NYSE 🙂 has published a rare article, with higher raw material costs and concerns over tariffs and trade policies. His shares fell by 2%.

Financials, mainly bank stocks, also drove the market higher with strong gains from Goldman Sachs (NYSE :), JPMorgan (NYSE 🙂 and Citigroup (NYSE :).

Newell Brands (NASDAQ 🙂 plunged 18% after reporting a decline from Investing.com estimates. The company has also identified trade tensions as a negative factor in the results.

In the technology sector, Nvidia led the semifinal wave by following the advice of chip makers and the advice of the day before.

Nvidia (NASDAQ 🙂 closed up 2% to $ 157.34, but well below the session's high of $ 163.87, with Wall Street doubting the company's expectations for a sharp rise in its bankroll. Q4 business in an uncertain environment for many of its businesses. It makes graphic chips often used in computers intended for players.

Morgan Stanley said Nvidia faces several simultaneous challenges affecting different areas of the business, which "creates a pretty idiosyncratic risk and many" unknowable "variables.

Main winners and losers of the S & P 500 today:

Arista Networks (NYSE :), CenturyLink (NYSE 🙂 and American International (NYSE 🙂 were among the top winners of the S & P 500 for the session.

Newell Brands (NASDAQ :), Mattel (NASDAQ 🙂 and Applied Materials (NASDAQ :)) were among the worst in the S & P 500 during the session.