Dow earns 444 points to close day and week higher trade negotiations next week

Here are 3 things to know about stocks right now

  • The Dow Jones Industrial Average index rose sharply on Friday after the decline in the blue chip index during the previous session, breaking with a four-day winning streak.
  • PepsiCo Inc.'s (PEP) fourth-quarter earnings were largely in line with analysts' forecasts, but the soft drinks and snack maker said earnings for 2019 would be down as the company increased its investment in some of its main consumer products. The stock rose 2.95%.
  • Nvidia Corp. (NVDA) grew by 1.82% after the chip company reported stronger than expected fourth quarter results and sales in its current fiscal year would exceed expectations as key Chinese markets recover from their slump current.

Wall Street: overview

Stocks closed higher on Friday, Feb. 15, after US and Chinese officials continue trade talks next week in Washington, raising hopes for a near-term deal between the two largest economies.

Chinese state television said that President Xi Jinping had said that the negotiations for a week, comprising two days of high-level negotiations between US Treasury Secretary Steven Mnuchin, and the Vice Premier Minister Liu He, had made "significant progress step by step".

"Next week, the two sides will meet in Washington, and I hope that you will continue your efforts to reach a win-win agreement that will benefit both sides," said Xi.

According to the Wall Street Journal, the United States and China could sign a memorandum of understanding that could serve as a framework for an agreement that Donald Trump and Xi could eventually finalize at a summit.

Meanwhile, Trump said Friday a national emergency aimed at releasing funds for the construction of a border wall with Mexico. He is also expected to sign a financing bill on Friday that would avoid another government shutdown.

"President Trump's decision to declare the state of emergency in order to fund a border wall will trigger a series of legal battles that will take months to determine, if not more," said Chris Zaccarelli, Director of Investments, Independent Advisor Alliance.

"The markets will probably look beyond this fight as an additional example of a partisan dysfunction in Washington, which should have little impact on the short-term market," Zaccarelli said. "However, it continues to shed light on the wider problem of lack of unity in the country and this should let investors pause."

The Dow Jones Industrial Average gained 444 points, or 1.74%, to 25,883, the S & P 500, 1.09% and Nasdaq, 0.6%.

PepsiCo Inc. (PEP) reported fourth-quarter earnings largely in line with analysts' forecasts, but said earnings for 2019 would fall as the company increased its investment in some of its key consumer products. The stock rose 2.95%.

Pepsi said base earnings for the quarter ended December was $ 1.49 per share, which is in line with Wall Street forecasts. The business figure was also online and was virtually unchanged from the same period of the previous year, at $ 19.524 billion.

In 2019, Pepsi stated that net income would decrease by 1%, partly due to "additional investments to boost the business," but said the company should return to "constant foreign exchange EPS growth at a figure greater than 25% "" noted the following year.

Deere & Co. (DE) reported earnings per share of $ 1.54 for the first quarter, lower than estimates of $ 1.76. Revenues were $ 6.94 billion, which is above expectations of $ 6.82 billion.

The company noted, however, that the easing of cost pressures would allow it to be "cautiously optimistic" about earnings for 2019. Stocks fell 2.11%.

Newell Brands Inc. (NWL) plunged 20.9% on Friday after reporting weaker than expected fourth quarter sales after posting disappointing outlooks for the year. Shares closed at $ 17.16, their lowest level in three months. This is the largest percentage decline on a day of action since November 2, 2017.

Nvidia Corp. (NVDA) rose 1.82% on Friday after the chip company reported stronger-than-expected fourth quarter results and said its current year's sales would exceed Wall Street forecasts as key markets in China are recovering from their current slump.

Fourth quarter adjusted earnings were 80 cents per share, exceeding estimates by 62 cents, while the $ 2.21 billion business figure was missing forecasts of $ 2.24 billion. The company had significantly guided the forecasted revenue at the end of January from $ 2.7 billion to $ 2.2 billion.

Canopy Growth Corp. (CGC) released a third-quarter fiscal quarter revenue exceeding expectations and announced that its chief financial officer was considering leaving the company later this year.

The cannabis company reported a loss of 38 cents Canadian per share on its income, net of excise taxes of $ 83.1 million Canadian. In the same quarter of the previous year, Canopy Growth had earned 1 Canadian cents per share on a restated turnover of Can $ 22 million.

The stock was up 3.06% on Friday.

Mattel Inc. (MAT) experienced its worst percentage decline in a day in nearly 20 years on a disappointing outlook for 2019. Stocks fell nearly 18% after a presentation to analysts on Friday, stable gross sales and a EBITDA adjusted lower than expected for the market. year.

Oracle Corp. (ORCL) was up slightly on Friday after documents filed by the Securities and Exchange Commission showed that Warren Buffett's Berkshire Hathaway Inc. (BRK.A) had abandoned its entire stake in the software company just months after revealing his investment of $ 2 billion.

Berkshire Hathaway told the SEC in a paper filed in November that it held 41.4 million shares in Oracle at the end of the third quarter, after dropping its stake in International Business Machines Corp. (IBM) earlier in the year.

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