- Improved market sentiment lifts US stocks on Friday.
- Renewed trade optimism boosts industrials and technology shares.
Wall Street’s main indexes started the last day of the week in the positive territory supported by renewed hopes of the United States and China finalising the phase one of the trade deal to avoid tariff hikes in December. As of writing, the Dow Jones Industrial Average was up 0.3% on the day while the S&P 500 and the Nasdaq Composite were adding 0.35% and 0.5%, respectively.
Earlier in the day, United States Commerce Secretary Wilbur Ross told Fox Business Network that they were “much farther along with details of the trade deal with China,” and noted that there was a very high probability that they will reach a deal.
Boosted by the improved market sentiment, the risk-sensitive Technology Index is adding 0.5% on the day to lead the rally alongside the Industrials Index, which was up 0.6% at the time of press. On the other hand, the defensive Real Estate, Utilities, and Consumer Staples indexes are registering modest losses.