Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Wall Street rises on trade talk optimism

Stock MarketsAug 20, 2018 03:11PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Traders work on the floor of the NYSE in New York

By April Joyner

NEW YORK (Reuters) - The S&P 500 and Dow Industrials rose on Monday on optimism over trade talks between the United States and China, while the Nasdaq edged upward as technology stocks pared losses.

The planned talks between the United States and China later this week provided a boost to the trade-sensitive industrial sector (SPLRCI), which rose 0.7 percent. Industrials added the most gains to the S&P 500 among the index's major sectors.

Easing concerns over a potential trade war also helped lift prices of oil and metal. The S&P 500 energy sector (SPNY) rose 0.8 percent, and the materials sector (SPLRCM) was up 0.7 percent. [O/R] [MET/L]

"It doesn't necessarily guarantee that there will be an immediate resolution," said Adam Phillips, director of portfolio strategy at EP Wealth Advisors in Torrance, California, of the trade talks. "But it's certainly a positive development, and it's certainly something investors are focusing on."

The Dow Jones Industrial Average (DJI) rose 100.59 points, or 0.39 percent, to 25,769.91, the S&P 500 (SPX) gained 7.52 points, or 0.26 percent, to 2,857.65 and the Nasdaq Composite (IXIC) added 6.95 points, or 0.09 percent, to 7,823.28.

The Nasdaq moved into positive territory as technology stocks pared losses. The S&P 500 technology index (SPLRCT) was last down 0.1 percent after having dipped as much as 0.63 percent earlier in the session.

This week, investors are turning their attention to central bank policies as the earnings season winds down.

Minutes of the Federal Reserve's August policy meeting will be released on Wednesday. The minutes are expected to indicate the Fed's confidence in U.S. economic growth and commitment to further interest rate increases.

Later this week, Fed Chair Jerome Powell and other central bankers will meet in Jackson Hole, Wyoming. On their agenda is a discussion of the root causes of stubbornly low inflation, slow wage growth and weak productivity gains in the U.S. economy.

Shares of Nike Inc (N:NKE) hit a record high of $82.42 after Piper Jaffray and Susquehanna raised their ratings on the stock. Nike shares were last up 2.8 percent at $82.00.

Intel Corp (O:INTC) shares dropped 1.2 percent after brokerage Cowen & Co said the chipmaker's disclosure of new security bugs in some of its microprocessors may push cloud companies to seek other suppliers.

Estee Lauder (N:EL) rose 2.7 percent after topping quarterly profit and sales estimates as customers bought more of its high-margin Clinique and La Mer skin care products.

Advancing issues outnumbered declining ones on the NYSE by a 2.48-to-1 ratio; on Nasdaq, a 1.62-to-1 ratio favored advancers.

The S&P 500 posted 49 new 52-week highs and no new lows; the Nasdaq Composite recorded 107 new highs and 61 new lows.

Wall Street rises on trade talk optimism
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Ding Donglong
Ding Donglong Aug 20, 2018 7:58AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Remember the dip last week? Should have bought it up like I did.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email