Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Stocks - Wall Street Rises on Upbeat Trade News  

Stock MarketsNov 15, 2019 09:52AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

Investing.com – Wall Street rose on Friday, as investors turned optimistic on upbeat comments on the U.S.-China trade front.

The Dow was up 85 points or 0.3% by 9:48 AM ET (13:48 GMT), while the S&P 500 gained 10 points or 0.3% and the Nasdaq composite rose 37 points or 0.4%.

White House economic advisor Larry Kudlow said on Thursday that the U.S. and China were close to securing a trade deal. His comments come after a week of volatility after reports that the two sides had hit a snag over trade talks. Chinese media on Friday fleshed out arguments that Chinese demand for U.S. farm products is nowhere near the level of purchases that Washington is insisting on in order to seal a partial 'phase-1' deal.

U.S. Commerce Secretary Wilbur Ross said Friday that U.S. and Chinese officials would hold a call later in the day, but added that the U.S. could still impose tariffs on Chinese goods, which are scheduled for Dec. 15.

"We have been here so many times where the market gets its hopes up and then it gets crushed," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.

"But certainly with an election coming up next year, you would want to have all these things behind you, so a mini-deal or a trade truce makes a lot of sense."

Applied Materials (NASDAQ:AMAT) was among the top gainers, rising 8% after the open as its strong fourth-quarter earnings were helped by increased demand for its processor chips. Grubhub (NYSE:GRUB) jumped 3.8% after Shake Shack (NYSE:SHAK) announced that it is launching a nationwide delivery service with the company, while Nike (NYSE:NKE) rose 1.3% after upgraded its quarterly dividend. JC Penney Company (NYSE:JCP) was up 6.3% after its loss for the last quarter was smaller than expected, while comparable sales fell slightly less than forecast, at 6.6% compared to the 7.7% drop expected.

Elsewhere, Aurora Cannabis (NYSE:ACB) slumped 10% after it reported a 23% decline in revenue and announced plans to slow its expansion.

In commodities, the U.S. dollar index, which measures the greenback against a basket of six major currencies, was down 0.1% to 97.900 and gold futures slipped 0.5% to $1,466.15 a troy ounce. Crude oil futures rose 0.3% to $56.93 a barrel.

-Reuters contributed to this report

Stocks - Wall Street Rises on Upbeat Trade News  
 

Related Articles

Capital One to eliminate all overdraft fees
Capital One to eliminate all overdraft fees By Reuters - Dec 01, 2021

(Reuters) - Capital One Financial Corp (NYSE:COF) said on Wednesday it would eliminate all overdraft and non-sufficient funds fees for consumers, ending a practice that drew the...

2 Oversold Semiconductor Stocks to Scoop Up Now
2 Oversold Semiconductor Stocks to Scoop Up Now By StockNews - Dec 01, 2021

Governments worldwide have been taking steps to alleviate the current semiconductor chip shortage. With large-scale expenditures to expand production, fundamentally sound...

3 Popular SaaS Stocks to Avoid in December
3 Popular SaaS Stocks to Avoid in December By StockNews - Dec 01, 2021

With the remote work arrangements expected to continue, a heightened adoption of cloud platforms is expected to enable the software-as-a-service (SaaS) industry to grow...

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 (7)
Hank Williams
Hank Williams Nov 15, 2019 2:32PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Any bank that puts investment in Aramco should not be allowed to be bailed out. AGAIN!
Shram Kaan
Shram Kaan Nov 15, 2019 11:38AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
First we need get far from market
Shram Kaan
Shram Kaan Nov 15, 2019 11:23AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Gents,be ready for rapid down ..it will come soon
Hank Williams
Hank Williams Nov 15, 2019 11:14AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Next week it will be stooge#3 coming out a giving a different angle to "we are very close to a deal."
Logan Keith
Logan Keith Nov 15, 2019 10:33AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
yes the positive trade news.... if things arent priced in now there is no hope for us when this house of cards collapses
Pwr Strk
Pwr Strk Nov 15, 2019 10:25AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
now prepare for the BLACK BIG DIP
Pwr Strk
Pwr Strk Nov 15, 2019 10:23AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
yeah, all year long....
 
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