US. Stock indices rose to record highs Friday morning after retail sales rose again in October, after White House officials once again discussed the prospects for a trade agreement with China.
What are the main benchmarks?
Dow Jones Industrial Average
DJIA, + 0.52%
rose 143 points, or 0.5%, to 27,927, while the S & P 500 Index
SPX, + 0.55%
COMP, + 0.60%
increased by 56 points or 0.7% to 8,535.
All three benchmarks were above their previous record close and set new intraday highs on Friday morning.
On Thursday, the Dow ended slightly lower, dropping 1.63 points to 27,781.96, the day after a record-breaking date. The S & P 500 tiptoed further into territory with a rise of 2.59 points or 0.1%, ending at 3,096.63 – the 21st record of 2019. The Nasdaq Composite fell 3.08 points Decline of less than 0.1%. to finish 8,479.02.
During the week, the Dow rises 0.7%, the S & P 0.5% and the Nasdaq less than 0.6%.
Read: & # 39; Hindenburg Omen & # 39; and & # 39; Ohama Titanic Syndrome & # 39; in an Important Stock Market Index
What drives the market?
Equity markets held on to easy gains this week as investors remain confident Positive developments in US-China trade relations will soon justify recent highs for key stock indices.
"Investors continue to stick to every word associated with the US-China trade war," said Russ Mold, Investment Director at AJ Bell. "The White House economic adviser, Larry Kudlow, said the current negotiations between the two countries are 'very constructive', which was enough to boost equity markets in the UK, mainland Europe and most of Asia. "
Kudlow said on Thursday is nearing an agreement, but this President Donald Trump was not ready yet to log off. Trump "does not like what he sees, he is not prepared to make a commitment, he has not signed a commitment for the first phase, we have not yet reached an agreement for the first phase," he said at a meeting of the Council on Foreign Relations Wall Street Journal.
US. Retail sales growth rebounded in October, rising 0.3% after a 0.3% decline in September over the 0.2% growth expected by market economists interviewed by MarketWatch. However, excluding sales of cars and gasoline, sales increased by 0.1%, below the consensus forecast of 0.4%.
Industrial production in the US, however, fell the most for 17 months in October, up 0.8% from MarketWatch. Industrial utilization fell to 76.7 in October, the lowest level in more than two years.
The New York Federal Reserve's November Empire State Index, a measure of regional activity, also fell short of expectations at 2.9. According to a MarketWatch survey, the November decline was 1.1 versus October and below Expectations of economists of 5.0.
Which stocks are in focus?
Shares of Applied Materials Inc.
AMAT, + 9.79%
should be in focus after the chip outfitter reported a late-Thursday profit decline over the previous year, but expectations of Wall Street surpassed. The company's outlook also supported earlier chip equipment reports, which indicated a recovery for the run-down semiconductor industry. Equities rose 10.1% on Friday.
Chipmaker Nvidia Corp.
predicted late on Thursday a return to revenue growth after four quarters of declines, outperforming the estimates for the quarter results. The shares fell 2.4% on Friday.
The furniture manufacturer RH
RH + 6.21%
rose more than 6% on Friday after Warren Buffett Berkshire Hathaway Inc.
] BRK. B, + 0.14%
BRK.A, + 0.20%
announced in a regulatory filing 1.2 million shares of the company, formerly known as Restoration Hardware, to have bought.
] Berkshire also announced that it had close to 7.5 million shares of Occidental Petroleum Corp. at the end of the third quarter.
OXY with a value of + 3.14%
worth about $ 332 million. Berkshire pledged $ 10 billion in April to help Occidental with its takeover bid for Anadarko Petroleum Corp, giving the company an advantage over Chevron Corp.
CVX, + 0.16% ,
which later withdrew from the fight for Anadarko.
Shares of J.C. Penney Co. Inc . rose more than 7% after the department store retailer posted lower losses than expected in the third quarter.
How are other markets acting?
The yield on the 10-year US Treasury note
TMUBMUSD10Y, + 0.52%
rose 1.6 basis points to 1.828% on Thursday due to rising trading expectations after falling to a weekly low on Thursday.
The price of a barrel of West Texas Intermediate crude for December delivery
CLZ19, + 1.76%
rose 45 cents, or 0.8%, to $ 57.21, despite the fact that the commodity was still on track for weekly losses. The price of one ounce of gold for delivery in December
fell $ 4.30 or 0.3% to $ 1469.20 as the safe haven lost appeal.
The value of the US dollar fell by 0.2%, according to ICE-US-Dollar Index
DXY, -0.11% .
In Asia, equities were traded overnight mixed with the Chinese CSI 300
fall by 0.7% and the Shanghai Composite Index
with a decrease of 0.6%. Japan's Nikkei 225
NIK, + 0.70% ,
meanwhile, rose 0.7%, while Hong Kong's Hang Seng Index
HSI, + 0.01%
were virtually unchanged at the meeting.
In Europe, shares were traded mixed with the Stoxx Europe 600
SXXP, + 0.40%