Wall Street: Business optimism sends major indices to record

On Wall Street, the Dow Jones, Nasdaq and S & P 500 ended Friday at unprecedented levels, after a week marked by renewed optimism on the Sino-US trade front.

The Dow Jones, the index index of the New York Stock Exchange, has grazed 0.02% to 27,681.24 points after being in the red most of the session.

The Nasdaq, with strong technological color, it, gained 0.48%, to 8.475,31 points, and the S & P 500 0.26%, to 3,093.08 points.

Over the week as a whole, the Dow Jones rose 1.2%, the Nasdaq 1.1% and the S & P 500 0.8%.

For the Nasdaq, this is the sixth week of consecutive increase, the index having risen 27.7% since the beginning of the year.

The New York place had however retreated Friday early in the session after statements by Donald Trump, who said he opposed a total elimination of additional tariffs on hundreds of billions of dollars worth of Chinese goods.

The US president also assured that any deal with China would be signed on US soil, evoking the state of Iowa as a possible venue.

But the indices have erased their losses and ended the week in the green, the market remaining convinced that progress has been made recently to resolve the trade dispute between the world's two largest economies.

On Thursday, a spokesman for the Chinese Ministry of Commerce ensured that the tariffs imposed by Beijing and Washington would be gradually lifted.

“There will be several key events and data release next week, but the market's attention should always be dominated by developments around the Sino-US talks,” predicts LBBW's Karl Haeling.

According to the expert, the financial actors will scrutinize three elements: the possible divisions within the White House on the commercial file, the way in which Beijing and Washington respectively describe the progress of the talks and the strategies used by the negotiators.

“It is obvious that Donald Trump and Xi Jinping have good reason to want some sort of agreement, that they can not give the impression of making too many concessions, that China wants to see as many taxes as possible and that the hawks of the Trump administration want to keep them as much as possible, “says Haeling.

Among stocks, Disney, a member of the Dow Jones, climbed 3.76% after publishing Thursday after the close of quarterly results better than expected.

Bob Iger, the group's CEO, also announced that it has entered into a distribution agreement with Amazon to have its new Disney + streaming platform present on “Fire TV” devices.

In the bond market, the 10-year rate on US debt continued its strong progress started Thursday, a sign of an appetite for risk investors. Around 9:40 pm GMT, it stood at 1,936%, against 1,917% the day before closing.

Among the other values, Gap fell 7.64% after the surprise departure Thursday of his boss, Art Peck, who led the ready-to-wear giant since early 2015. The group has also revised down sharply its forecast of results for the third quarter and the full year.

Activision Blizzard was down 0.46%. The US publisher of video games, which produces the franchises “Call of Duty” and “World of Warcraft”, released Thursday better than expected results in the third quarter, but recorded a further decline in the number of monthly users.

Xerox appreciated 4.13%. HP, heir to Silicon Valley's founding company, confirmed earlier this week that it was being discussed for redemption by Xerox.

Tiffany rose 0.54%. The French luxury giant LVMH, chaired by billionaire Bernard Arnault, no longer excludes to raise its initial offer of $ 14.5 billion to acquire the American jeweler, told AFP Friday sources close to the case.


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