|Day's range||9,346.81 - 9,393.48|
|52-week range||6,953.23 - 9,393.48|
A former Trump administration official says markets would prefer Joe Biden over more left wing Democrats who are running for president but that analysts and investors are overreacting.
President Donald Trump on Thursday officially nominated former economic adviser Judy Shelton and St. Louis Fed economist Christopher Waller to the remaining two seats at the Fed.
Asian shares rose on Friday after data in China showed pressure on the world's second biggest economy may be starting to diminish. The news along with easing trade tensions with the United States underpinned riskier assets, even as some markets took a breather in late afternoon trade. European bourses were expected to extend the global rally after Wall Street posted more records.
Asian shares rose on Friday after global stock indexes and Wall Street posted more records, and as China's economic growth matched expectations in spite of U.S. trade pressures. While China's growth in 2019 was the slowest pace of economic expansion in 29 years, held back by anaemic domestic demand and the damaging trade war with the United States, it was in line with analyst expectations and within the government's official target.
Key world equity indexes scaled new highs on Friday, boosted by a surge in U.S. housing starts to levels last seen in 2006, while the greenback rose to a one-week high against the euro on expectations of solid economic growth. Optimism over corporate earnings and indications of resilience in China's economy also lifted equities and pushed government debt yields higher. U.S. housing starts jumped 16.9% to a seasonally adjusted annual rate of 1.608 million units in December, a 13-year high that suggested the industry has recovered and can now help further the longest U.S. economic expansion.
Wall Street struck a trio of fresh records and the S&P 500 closed above 3,300 for the first time, boosted by tech and financial stocks and as investors remained upbeat in the wake of the US-China trade truce. Having already set numerous records this week, the S&P 500 closed 0.8 per cent higher at 3,316.81, led by a 1.4 per cent increase in tech stocks and a 1 per cent rise in industrials. The Dow Jones Industrial Average rose 0.9 per cent to 29,297.64, while the Nasdaq Composite gained 1.1 per cent to 9,357.13.
Global markets were subdued Thursday after the signing of a preliminary China-U.S. trade agreement that investors hope will bring better relations between the world's two biggest economies. U.S. President Donald Trump and China's chief negotiator, Liu He, signed the “Phase 1" deal on Wednesday before a group of corporate executives and reporters at the White House. The pact eases some sanctions on China.
Despite the signing of a phase one trade deal, California companies from banks to cemeteries say they have low optimism over business relationships rebounding in activity.
Wall Street returned to record territory as Donald Trump signed a US-China trade deal that has allayed fears of a protracted trade war. The Nasdaq Composite gained 0.1 per cent. Mr Trump and Chinese vice premier Liu He, along with other government officials, gathered at the White House to formally ink the phase one trade pact that calls for Beijing to increase American farm purchases and better protect intellectual property, among other measures.
The December jobs report highlighted disappointing wage growth data, showing average hourly earnings rose by only 2.9% over last year and dipped below 3% for the first time in more than a year.
US stocks touched record intraday highs but lost ground after reports that American tariffs on Chinese goods will remain until after the November presidential election. The S&P 500 and Nasdaq Composite ...
the label of the country as a currency manipulator, ahead of the signing this week of a “phase one” trade deal between the two sides. China a currency manipulator in August after the Chinese central bank allowed the renminbi to weaken beyond Rmb7 to the dollar. Lifting that label on Monday, Steven Mnuchin, US Treasury secretary, said China had “made enforceable — commitments to refrain from competitive devaluation” and pointed to the imminent broader agreement on trade.
The S&P 500’s near 30% return last year was driven in large part by multiple expansions, which sent valuations well above their historical averages.
Wall Street bagged a pair of closing highs as tech and materials stocks rallied and as investors geared up for the start of fourth-quarter earnings. The S&P 500 closed 0.7 per cent higher at 3,288.13, boosted by gains of 1.3 and 1.4 in tech and materials stocks respectively. Meanwhile, the tech-heavy Nasdaq Composite gained 1 per cent to 9,273.93.
Global stock markets were subdued Monday ahead of the signing of an interim U.S.-Chinese trade pact and as concerns about U.S.-Iranian tensions eased. Indexes in Europe were mixed after Shanghai, Hong Kong and South Korea finished higher. Japanese markets were closed for a holiday and futures pointed to small gains on Wall Street.
Crude oil traders who bet on a major price surge after U.S.-Iran tensions flared last week ended up losing big.