Wall Street finished higher Friday, driven by optimism regarding the outcome of the trade war between Beijing and Washington and the promise of China to take to arms-the body-the slowing down of its economy.
According to the final results at the close, the index feature of Wall Street, the Dow Jones Industrial Average, has gained 0.54% of to finish 25.848,87 points.
The Nasdaq, in high coloring technology, has advanced 0.76% to 7.688,53 points and the S&P 500 0.50% to 2.822,48 points. These two indices have ended at their highest level since 9 October.
This session ended a solid week, the Dow Jones has made 1,57% since Monday, the S&P 500 2,86% and the Nasdaq of 3.79%, the best week of the year for that index to strong staining technology.
On Friday, market players have been able to count on a renewed optimism regarding the trade dispute between Washington and Beijing.
Donald Trump has again expressed his belief in the early conclusion of an agreement, specifying expect a decision within three to four weeks.
Although the u.s. president has implicitly confirmed that the summit with his chinese counterpart, will not in march as originally expected, his remarks suggest that there is “progress in the negotiations,” said analysts at Charles Schwab.
“The market expects now a summit between the two heads of State in April”, a meeting seen by many observers as a prelude to the end of the trade war, responded Quincy Krosby of Prudential Financial.
For its part, China has adopted Friday at the Parliament a law intended to ensure equitable treatment to foreign investors in China, which has been seen as a response to the commercial pressures of the United States.
Beijing has also given a guarantee promising to take action against the slowdown in the world’s second largest economy, a source of a concern in the world.
The side indicators us consumer confidence rebounded more than expected at the beginning of the month of march thanks to a surge of optimism in households with low incomes, adding optimism to the session.
“When this figure goes up, it means that consumers are willing to spend. This is important because consumer spending accounts for more than 70% of the u.s. economy,” said Quincy Krosby.
On the bond market, the interest rate on the debt to ten years retreated to 2,588%, compared to 2,630% Thursday evening, and the one on the debt to 30-year declined to 3,017%, compared to 3,046% to the previous closing.