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Author Topic: Dow closed up 146.97 points, receiving the US-China news.  (Read 868 times)

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Dow closed up 146.97 points, receiving the US-China news, nearing the first phase of the trade agreement.

Dow: The New York Stock Exchange closed up last night (4 Dec) in response to news reports that US and China are close to reaching the first phase of the trade agreement. The optimistic view of the progress of trade negotiations in both countries has helped the financial and technology stocks rebound. Meanwhile, energy stocks rose after crude oil prices soared more than 4%.

The Dow Jones Industrial Average closed at 27,649.78 points, up 146.97 points or + 0.53%, while the S & P500 index closed at 3,112.76 points, up 19.56 points or + 0.63%. Nasdaq index closed at 8,566.67 points, up 46.03 points or + 0.54%.

The New York Stock Exchange rebounded after the Bloomberg news agency cited sources citing that US and China are approaching the first phase of the trade agreement. Although relations between both sides experienced tensions about the case of Hong Kong and Xinjiang

An anonymous U.S. official said the US Trade Negotiation Board is hoping to reach its first phase of trade with China before the US imposes a 15% tax on imported goods from China. 1.56 billion dollars on 15 December. In addition, officials said that The US Congress enacts sanctions on Chinese officials for human rights violations in Hong Kong and Xinjiang. Will not affect trade negotiations

The President Donald Trump told reporters at the summit of the North Atlantic Treaty Organization (NATO) yesterday that Trade negotiations between the United States and China are proceeding very well. The attitude of President Trump, contrary to the signal he sent on Tuesday past that The completion of trade agreements between the United States and China may be delayed until the US presidential election next November.

Financials and technology stocks rebounded in response to trade talks that signal progress. JP Morgan Chase rose 1.9%, Goldman Sachs rose 1.8%, Morgan Stanley increased 1.5%, Wells Fargo plus 1.2%, Citigroup plus 1.24% Bank of America Plus 0.9%

In the technology group, Micron Technology shares rose 2.3 percent, Apple shares rose 0.8 percent, Nvidia shares rose 0.8 percent, Advanced Micro Devices rose 2.03 percent, Microsoft shares rose 0.36 percent.

Alpha shares of Google's parent company jumped 1.9 percent after Larry Page and Sergei Brin, co-founders of Google. Resign from the CEO position And the chairman of AlphaBet, respectively Which makes Mr Sandar Pichia, CEO of Google Take over the CEO position of AlphaBet in addition to the current position.

Johnson & Johnson shares jumped 1.6% after the company revealed a recent test found that Johnson's baby powder without asbestos components The said report helps investors to relieve anxiety. After the US Food and Drug Administration (FDA) reported the findings earlier this year that The asbestos component was found in Johnson's baby powder products.

Energy stocks rebounded after WTI oil prices jumped more than 4% last night, responding to lower-than-expected crude stocks last week. Exxon Mobil shares rose 1.1%, Chevron shares plus 0.9%, Devon Energy rose 4.5%, Halliburton shares. Which is a major US oil and gas drilling service provider, rose 2.27%

For the US economic data released last night, Automatic Data Processing Inc. (ADP) and Moody's Analogs revealed that the employment of the private sector increased by just 67,000 positions in the month. Nov. Lower than analysts expected at 150,000 positions

While a survey by the US Supply Management Institute (ISM) found that the US service sector index fell to 53.9 in November from 54.7 in October. However, the ISM report contrasted with data from IHS Markit, which states that the final purchasing manager index (PMI) in the US service sector Rose to 51.6 in November, the highest level in 4 months from 50.6 in October.

Other US economic data scheduled for release this week include Number of weekly jobless claims, October trade balance, October factory orders, November non-farm payrolls, December consumer confidence index From the University of Michigan And inventory in the wholesale sector in October.



 

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