[ad_1]
NEW YORK – Apple rebounded Thursday in tech stocks and relaunched the top three US stock indexes, while trade worries eased after China hosted new talks with the United States.
The Dow Jones came close to its historic record on January 26, closing at its highest since February 1 and only 1.8% below the close of January 26. The S & P 500 and the Nasdaq had already surpassed their January highs and reached highs in the previous weeks.
The S & P tech index climbed 1.2% on the day, its highest percentage since August 2nd, boosted by Apple's 2.4% gain.
The timing of a new round of trade talks is still unclear and President Donald Trump has said that the United States has no pressure to reach an agreement with China.
"The shares have already received a boost yesterday when investors learned that the Trump administration had started trade negotiations with China," said Burns McKinney, portfolio manager at Allianz Global Investors in Dallas.
"Inflation figures have been lower than the population expected, which is a positive point, because it may be less of a benefit to Federal Reserve coverage, which is good for actions. "
US consumer prices rose less than expected in August and underlying inflationary pressures also seemed to be slowing, according to a report by the US Department of Labor.
The Dow Jones Industrial Average rose 147.07 points, or 0.57%, to 26,145.99, the S & P 500 rose 15.26 points, or 0.53%, to 2,904.18. Nasdaq Composite added 59.48 points, or 0.75%, to 8,013.71.
Wednesday, the Trump administration has invited Beijing to a new round of negotiations, while Washington was preparing to impose tariffs on Chinese goods worth $ 200 billion.
The trade-sensitive industrial index rose 0.5%. Caterpillar rose 0.9% and Boeing 0.6%.
Apple, which said the tariffs could touch a "wide range" of its products, was unveiled on Wednesday when it unveiled its biggest iPhone, but only made small, long-awaited changes to its lineup.
Home Depot's shares fell 1.2%, Lowe's Cos dropped 1.4% and Beacon Roofing Supply's 5.9%, Hurricane Florence, which started hitting the coast of North Carolina, has been reduced to category 2.
The S & P base consumer index fell 0.4% as Kroger's shares weighed on the sector.
Kroger was down 9.9% after comparable store sales in the supermarket chain missed estimates as customers were put off by changes in the way they stored merchandise.
The chip makers rebounded on Wednesday, as the Philadelphia semiconductor index rose 1.2%.
Qualcomm rose 4.0% after announcing it would buy back about $ 16 billion of its stock.
At the end of the session, a Republican-led panel in the US House of Representatives voted in favor of permanent individual tax cuts on Trump's 2017 tax reform, an initiative seen as a way to help candidates Republicans in the November parliamentary elections.
The progression of the problems was greater than that of the declining stocks on the NYSE by a ratio of 1.41 to 1; on the Nasdaq, a ratio of 1.09 to 1 favored advances.
The S & P 500 recorded 61 new 52-week highs and 2 new lows; The Nasdaq Composite recorded 120 new highs and 59 new lows.
About 6.7 billion shares have changed hands on US stock exchanges. This compares with the daily average of $ 6.1 billion over the last 20 trading days, according to Thomson Reuters data.
(Additional story by Shreyashi Sanyal in Bengaluru and Sinead Carew in New York, edited by Susan Thomas and Dan Grebler)
Source link
