|Day's Range||2,779.11 - 2,794.20|
|52 Week Range||2,346.58 - 2,940.91|
U.S. equities are rising amid a highly anticipated meeting between President Donald Trump and China’s top trade negotiator.
As trade talks between the U.S. and China continue, Parag Khanna, the author of “The Future is Asian”, says it is likely President Trump will accept China’s concessions and reach a deal because American industry is telling him “we are in trouble.” Yahoo Finance’s Alexis Christoforous speaks to him.
U.S. stocks fell as new economic data pointed to weakness in the manufacturing sector and softening labor market trends. Earlier reports of progress toward tangible commitments for a trade deal between the U.S. and China failed to provide a lasting boost to stocks.
U.S. stocks were higher in afternoon trading on Friday but pared gains after U.S. officials said the United States and China still have issues to resolve in their ongoing trade talks. People briefed on the talks said more time is likely needed in the talks given China's resistance this week to U.S. demands for specific steps by Beijing to end forced transfers of U.S. technology and certain other policies. Signs of progress in the ongoing trade talks between the two countries supported the market for much of the session, leaving the Dow and Nasdaq on course to post a ninth straight week of gains.
U.S. stocks pared gains as investors assessed comments by American officials on the state of trade negotiations with China. The S&P 500 cut an earlier advance in half after President Donald Trump said he may or may not work out the final details on trade during a meeting with Chinese President Xi Jinping. The dollar remained lower after Treasury Secretary Steven Mnuchin said the two sides had reached a final agreement on currency.
U.S. stocks retreated from the highest levels of Friday as headlines from wire services of President Donald Trump's Oval Office comments suggest doubt on progress on U.S.-China trade talks. In a letter written by Xi Jinping and read out by Trump, the Chinese leader said he hopes the two sides "redouble efforts to meet half way." Trump meanwhile said perhaps he and Xi will work out the final points or perhaps not. U.S. Trade Representative Robert Lighthizer said a few "very big" hurdles remain. The Chinese delegation will stay two additional days, Treasury Secretary Steven Mnuchin said.
Technology and health care companies led U.S. stocks higher in afternoon trading Friday, erasing some of the market's losses from a day earlier and placing the benchmark S&P 500 on track for its fourth straight weekly gain.
David Stockman, the so-called “Father of Reaganomics,” is at it again in the most recent prognostication of doom for the markets and the broader economy.
It wasn’t a great week for fourth-quarter earnings, as fewer companies beat expectations than usual, and the outlook for the first quarter fell deeper into the red, which would mark the first year-over-year decline in nearly three years, if it holds.
Stocks rise Friday, with the Dow on track for its longest weekly winning streak since May 1995, thanks to optimism over U.S.-China trade talks.
U.S. Treasury yields drifted lower on Friday afternoon as U.S. and Chinese trade negotiations came to a close for the week and members of the Federal Reserve commented about the bank's review of its monetary policy framework. U.S. President Donald Trump is scheduled to raise tariffs to 25 percent from 10 percent on $200 billion of Chinese imports on March 1 unless a deal is reached. Investors suggested that the turn downward in yields was partially attributable to remarks made by members of the Fed at a conference in New York on Friday.
The Federal Reserve might want the composition of its balance sheet to match the maturity composition of outstanding Treasury securities, said Federal Reserve Vice Chairman for Supervision Randal Quarles on Friday. The ultimate composition of the balance sheet is one of the key remaining unknowns about the central bank's plans for its $4 trillion balance sheet. The central bank signaled it intends to end the shrinking of its asset holdings would end this year. Many Wall Street economists had assumed the Fed might try to shorten the duration of its asset holdings so the central bank had room to lower long-term interest rates through purchases if the economy fell into recession. Quarles said a balance sheet that mirrors the composition of outstanding Treasury bills, notes and bonds would "minimiz[e] any market distortions that could arise from our holdings."
Shares of India Globalization Capital Inc. , also known as IGC, more than tripled--up 234%--in very active afternoon trade Friday, to trade above the $1 mark for the first time in three months, after the company said its stock will re-list on the NYSE's American exchange next week after it won its appeal. Trading volume swelled to $8.6 million shares, compared with the full-day average of about 253,000 shares. The cannabis company's stock has been trading over the counter since the exchange's decision on Oct. 29 to delist the stock. Prior to its October de-listing, MarketWatch had written a story that outlined series of concerns with the company's claims and businesses. IGC's stock has now gained 85% over the past three months, while the ETFMG Alternative Harvest ETF has rallied 23% and the S&P 500 has tacked on 5.2%.
Top trade negotiators from the two countries met to wrap up a week of talks on some of the thorniest issues in their trade war, with President Donald Trump and Chinese Vice Premier Liu He set to meet at the Oval Office later in the day.
With minor market weakness Thursday, most of the data has returned to neutral readings. Even so, no sell signals were generated on the charts. On the Charts Only the Dow Jones Transports managed to post a gain Thursday as the rest of the equity indices saw declines on negative breadth but declining trade volume.