Wall Street rallied on Friday, with the Dow and the Nasdaq posting their eighth consecutive weekly gains as investors grew hopeful that the United States and China would hammer out an agreement resolving their protracted trade war.
NEW YORK (Reuters) – Wall Street rallied on Friday, with the Dow and the Nasdaq posting their eighth consecutive weekly gains as investors grew hopeful that the United States and China would hammer out an agreement resolving their protracted trade war.
All three major U. S. indexes ended the session higher, and for the fourth straight session, the S&P 500 held above its 200-day moving average, a key technical level.
Talks between the United States and China will resume in Washington next week, with both sides saying progress has been made toward resolving the two countries’ contentious trade dispute.
Tariff-vulnerable industrials provided the biggest lift to the blue-chip Dow, led by bellwethers Boeing Co, 3M Co, United Technologies Inc and Caterpillar Inc.
“This may be just false hope with the tariff situation as thorny details still need to be agreed upon,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York.
