USA. S & P 500 and Nasdaq ended on a one-and-a-half month high, as the market sentiment was backed up with encouraging headlines about US-China trade negotiations and Chinese guarantees on future economic incentives
S & P 500 Index
SPX, + 0.41
rose by 14 points, or 0.5%, to 2 822.48, and the Nasdaq Composite Index
COMP, + 0.76%
expanded by 57.62 points, 0.8%, to 7.688.53. Dow Jones Industrial Average
DJIA, + 0.54%
earned 138.93 points, or 0.5%, to 25,848.87.
During the week, Dow has grown by 1.6%, better since February 15, and Nasdaq has grown by 3.8%. The most powerful index since December 28, and S & P 500 added 2.9% for the largest weekly gain since November 30, according to FactSet.
What made the market?
Investors learned the comments of Chinese premier Lee Ketsian, the second leader of Beijing after President Xi Jinping, who expressed his optimism that a trade agreement between China and the United States could be reached, which is in line with both sides.
He said that the parties may be in a few weeks from the tariff deal, but describe China as "very responsible and intelligent." Separately, US Secretary of Treasury Stephen Mnuchin, speaking to journalists after the Senate's testimony before the Finance Committee, said that there was no date for a meeting between C & Trump to complete the deal, adding that "there is still a lot of work."
Trade negotiations between the two largest economies in the world were among the main issues for investors, because the heated war between these two countries could be detrimental to the economy all over the world.
Lee also appealed to the weakness of the world's second-largest economy and promised to maintain strong incentive measures such as lower interest rates, reduced bank reserves, tax cuts for consumers and businesses, which hopes a stable Chinese economy can stop the latest global slowdown trends. growth.
Read: Do not look right now, but global economic data are beginning to surprise investors in a good way
What data was the focus of attention? 3.7 in March from 8.8 in the previous month, almost two years. Economists were expecting a reading of 10, according to an Econoday poll.
USA. Industrial production grew by 0.1% in February, which is 0.4% more than economists had expected. However, the January figure has been raised to show a decline of 0.4%, rather than 0.6%, as previously estimated.
Jobs opening in the US rose to 7.58 million in January, the third highest figure in the data. Department of Labor.
Consumer sentiment increased in March to 97.8 from 93.8 in February, according to a previous reading of the Consumer Confidence Index at the University of Michigan. Reading was above 95, expected by economists surveyed by MarketWatch.
What did the strategists say?
The first step above was due to Lee's comments, which indicate that the Chinese government has undertaken to take additional stimulus measures, if necessary to support the world's second-largest economy, Brent Shutte, chief investment strategist at Northwestern Mutual Asset Management, MarketWatch.
"You see that small-cap companies are doing well, indicating Wall Street's risk-taking," he added, pointing to strong consumer confidence data that the expansion of the American economy has more opportunities.
"Such risk-conscious attitudes were mainly based on widespread optimism after President Trump's recent statement on" very responsible and smart China. " The US president also added that he will have news about a China-based trade agreement within the next 3-4 weeks, which could lead to a continuation of shares this year, "said U. W., a technical analyst at ActivTrades.
Read: Why some investors say that technology reserves become less risky
Counterpoint: A long-term market bull sees a disappointing parallel between today's and March 2000
What stocks were in the spotlight?
Promotions Facebook Inc .
dropped 2.5% after the company of social media said that the two executives left the company.
Amazon Inc. .
Stock AMZN, + 1.55%
increased 1.6% after KeyBanc Capital raised its stock market rating to overweight.
Promotions Boeing Inc.
BA, + 1.52%
received 1.5% after announcing that it would supplant a software update that could mitigate the problems that led to the rationale of its 737 8 Max . Airplanes in the US and abroad.
Bioscrip Inc. .
shares drowned 20% after the company announced an agreement with the private company Option Care Enterprises Inc.
Shares Ulta Beauty Inc .
ULTA, + 8.29%
grew by 8.3% after a wholesaler of beauty products recorded the fiscal results of the fourth quarter at the end of Thursday, surpassing expectations, showing an increase in online sales.
In Asia, the reserves closed above, with the Japanese Nikkei 225
NIK, + 0.77%
Chinese index Shanghai Composite
SHCOMP, + 1.04%
and Hang Seng Index in Hong Kong
HSI, + 0.56%
more than 0.5%
European stocks also rose, Stoxx Europe 600
SXXP, + 0.68%
At commodity markets the price of oil
ended below and gold
GCJ9, + 0.56%
set above, and US dollar
omitted from their peers.
– Mark DeCambre contributed to this article
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