US stocks rallied on Friday, helping Wall Street's major indexes advance for the fourth consecutive week, as increased hopes the United States and China would resolve their trade dispute lifted shares across sectors.
The Wall Street Journal reported on Thursday that U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for January 30. "Bloomberg News reported on Friday that the deal would aim to reduce the annual US deficit to zero by 2024", writes CNBC.
"It's risk-on again", said Tim Ghriskey, chief investment strategist at Inverness Counsel in NY.
President Trump has made cutting the trade deficit with China a chief priority of his trade strategy, repeatedly claiming he wants a fair and reciprocal deal.
At 9:41 a.m. EDT the Dow Jones Industrial Average was up 130.77 points, or 0.54 percent, at 24,500.87, the S&P 500 was up 14.67 points, or 0.56 percent, at 2,650.63 and the Nasdaq Composite was up 27.93 points, or 0.39 percent, at 7,112.39.
Industrial stocks .SPLRCI rose 1.9 percent, the second-most among the S&P 500's major sectors, while the Philadelphia SE semiconductor index .SOX climbed 2.3 percent. A 0.6 percent rise in technology sector was the biggest boost to S&P 500. Both groups of shares have been sensitive to trade developments.
Un pueblo de Italia pagará a extranjeros para que vivan en él
La empresa Airbnb se unió con la ONG Wonder Grottole para darle vida a esta pequeña localidad que queda al sur del país. Somos buenos escuchando", confiesa Vicenzo, uno de los más experimentados productores locales de aceite de oliva.
In Asian markets on Friday, China's Shanghai ended the session up 1.4 percent and 1.7 percent for the week, a third straight week of gains.
Schlumberger rose 5.27 percent after the world's largest oilfield services provider reported a quarterly revenue beat.
Analysts have lowered their fourth-quarter earnings forecast for S&P 500 companies to 14.2 percent from 20.1 percent estimated on October 1, according to IBES data from Refinitiv.
Shares of Netflix Inc, however, fell 4.0 percent after the video-streaming company forecast lower-than-expected revenue for the first quarter.
Advancing issues outnumbered declining ones on the NYSE by a 2.93-to-1 ratio; on Nasdaq, a 2.26-to-1 ratio favored advancers.