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Stocks: Wall Street Notches Record Highs as Geopolitical Jitters Ease

Stock MarketsJan 09, 2020 04:17PM ET
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Investing.com – Wall Street closed at record highs Thursday, led by a rally in tech on easing geopolitical jitters amid reports that the partial U.S.-China trade deal would be concluded as soon as next week.

The S&P 500 jumped 0.67%, while the Nasdaq Composite surged 0.81% and the Dow Jones Industrial Average rose 0.74%. All three indexes closed at record highs.

China's commerce ministry said on Thursday that Vice Premier Liu He is set to sign the phase one trade deal in Washington next week.

With hopes running high that the world's largest two economies may find a resolution to their months-long trade war sooner rather than later, investors piled into mega-cap tech stocks.

Facebook (NASDAQ:FB) and Alphabet (NASDAQ:GOOG) rose more than 1% and Apple (NASDAQ:AAPL) advanded 2% as it continued into record territory.

An uptick in chip stocks also supported tech, underpinned by a rally in Advanced Micro Devices (NASDAQ:AMD).

Mizuho upgraded AMD to buy, saying the 2020 server market could be stronger than current consensus, raising the prospect of higher growth for the chipmaker.

Energy, meanwhile, turned from market foe to friend, ending the day higher as oil prices steadied following a rout Wednesday.

Investors have scaled back expectations for a disruption in Middle East oil supplies following President Donald Trump's decision to opt for sanctions on Iran rather than violence in response to the Islamic Republic's attack earlier this week.

In industrials, meanwhile, Boeing (NYSE:BA) pared some of Wednesday's losses, rising 1.50% as reports that Iran had accidentally shot down the Ukrainian International Airlines 737 jet calmed fears the aircraft maker was facing another operational problem within its fleet.

Stocks: Wall Street Notches Record Highs as Geopolitical Jitters Ease
 

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Comments (13)
Paul Zivkovich
Paul Zivkovich Jan 10, 2020 7:32PM ET
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the oxygen levels are very thin up here. the withdrawal from the cocaine tax cut will be very painful
Lawrenti Berija
Lawrenti Berija Jan 10, 2020 1:28AM ET
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is the guy on the picture praying. yes pray, pray to your god Mammon - the day of reckoning is coming eventually
Dave Jones
Dave Jones Jan 09, 2020 11:11PM ET
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a 737 crashes or is blown up. Either way this is not positive yet it still skyrockets
Ron Warren
Ron Warren Jan 09, 2020 8:58PM ET
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How have tensions eased. Yesterday Iran dropped two missiles in the green zone in Iraq. Today the banner across the screen on CNN said that Iran isn't finished with the U S and vows revenge. I guess it must be my imagination.
Bobby Axelrod
Bobby Axelrod Jan 09, 2020 8:36PM ET
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Why don't you report real news? Like Capital injection from the FED is creating a massive bubble!!
Notvery Goodathis
Peteymcletey Jan 09, 2020 7:11PM ET
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So it doesn't drop from these tensions then surges when they "ease"
Dee Mehta
DMFINANCE Jan 09, 2020 7:08PM ET
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Another actor in pic do these guys have brains to figure it out or this is for retail
Dee Mehta
DMFINANCE Jan 09, 2020 7:01PM ET
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Fake on printed money
rob finch
rob finch Jan 09, 2020 5:31PM ET
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Go long. Enjoy the free ride. Put in stop limits.
Dave Jones
Dave Jones Jan 09, 2020 5:28PM ET
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Hang on. Iran shoots down an airliner and this is good news? What world are we living in?
Atleast Maximum
Atleast Jan 09, 2020 5:01PM ET
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made up news market did not rally it's fed and treasury pumping each day
Mojo Snake
Mojo Snake Jan 09, 2020 4:25PM ET
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Every day you should include the amount of FAKE money the FED puts in, today it was $83 Billion dollars.  That really should be part of your reporting when you talk about how great everything is every day.  It would be nice to know how much the invisible hand has affected the trading days outcome when reading your articles.
Arvin Ayudan
Arvin Ayudan Jan 09, 2020 4:21PM ET
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Ready for gap up
 
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