Market news
10.10.2019, 20:15

Major US stock indices closed in positive territory

Major US stocks rose moderately after US President Donald Trump announced that he would meet with Chinese Deputy Prime Minister Liu HE on Friday, which gives hope that the world's largest economies will be able to make progress in trade negotiations.

Trump wrote on Twitter: “This is a big day of negotiations with China. They want to make a deal, but do I want to? Tomorrow I will meet with the Deputy Prime Minister at the White House. ” Recall, earlier today, the Chinese newspaper South China Morning Post reported that the Chinese delegation, headed by Liu He, plans to leave Washington on Thursday.

In addition, Liu He said that Beijing is ready to conclude an agreement with Washington to prevent further escalation of the trade war. According to him, the Chinese side arrived with great sincerity and they are ready to cooperate with the United States on trade balance, market access and investor protection.

Market participants also analyzed inflation data for September, which showed that consumer prices in the United States remained virtually unchanged last month, as higher housing and food prices were offset by lower prices for energy and used cars and trucks. According to a report by the Ministry of Labor, the consumer price index did not change in September after rising 0.1% in August. Economists had expected another 0.1% increase. Over the 12 months to September, the consumer price index rose 1.7% after rising by the same margin in August. Economists surveyed by the agency predicted an increase in consumer price index in September of 1.8% year on year. At the same time, excluding food and energy prices, basic consumer prices rose 0.1% in September after rising 0.3% for three consecutive months . Economists had expected base prices to rise 0.2%. In the 12 months to September, the base consumer price index rose 2.4%, which corresponds to an increase in August. The fact that consumer prices in the US did not change in September, and core inflation receded slightly, is fueling expectations that the Fed will lower interest rates in October for the third time this year amid risks to the economy as a result of trade tensions.

Most DOW components recorded an increase (23 out of 30). The biggest gainers were Caterpillar Inc. (CAT; + 2.80%). Outsiders were shares of Cisco Systems (CSCO; -1.42%).

Almost all S&P sectors completed trading in positive territory. Only the utilities sector declined (-0.1%). The largest growth was shown in the base materials sector (+ 1.3%).

At the time of closing:

Dow 26,496.67 +150.66 +0.57%

S&P 500 2,938.13 +18.73 +0.64%

Nasdaq 100 7,950.78 +47.04 +0.60%

© 2000-2021. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location