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The Dow Jones Industrial Average rose on Friday, garnering its first run of consecutive wins in eight days in more than a year, while confidence around the US-China trade relations 39; improved.
The index of 30 stocks traded 50 points higher. The S & P 500 and the Nasdaq Composite, however, struggled. The S & P 500 was up slightly, while the Nasdaq slipped.
The Dow is looking to break a record of 27,398 in intraday. Until Thursday's close, the Dow Jones was only 0.8% below this level. The S & P 500 was also within the range of its record of 3,027.
Caterpillar and Boeing trademarks increased 0.8% and 0.4% respectively. These gains were slightly offset by a 1.7% decline at Apple. The tech giant's shares fell after an analyst at Goldman Sachs reduced his price target on Apple to $ 187 per share, up from $ 187 per share.
The focus on markets is largely tied to global trade developments as the world's two largest economies continue to prepare for negotiations in early October to break the stalemate in the global economy. commercial war.
The New York Times announced on Friday that China would exempt some US agricultural products, including soy and pork, from new tariffs.
On Thursday, the United States welcomed the resumption of purchases of US agricultural products by China. President Donald Trump said Beijing was expected to buy "large quantities" of agricultural products. Trump also said he would consider an interim trade deal with China.
"This is quickly becoming the basic assumption and therefore it is unclear whether stocks will react favorably to headlines in the future, simply confirming the likelihood of such a scenario," said Adam Crisafulli, executive director of JP Morgan, in a note.
Trump's comments came after his decision to defer the $ 250 billion increase in tariffs on Chinese goods from October 1 to 15, as a sign of goodwill towards China. The United States and China have imposed tariffs on billions of dollars worth of goods since the beginning of 2018, degrading financial markets and weakening the business and consumer climate.
On the data front, consumer confidence for September and corporate stocks for July should be released at 10 am ET.
Sam Meredith and Michael Bloom of CNBC contributed to this report.
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