US Market hits all-time highs

The US stock market finished session at fresh record highs on Friday, 15 November 2019, on revived hopes for a U.S. - China trade deal after White House Economic Adviser Larry Kudlow statement that the US and China were getting closer to reaching a resolution. At closing bell, the Dow Jones Industrial Average advanced 222.89 points, or 0.8%, to 28,004.89, while the S&P 500 index rose 23.83 points, or 0.77%, to 3,120.46. The Nasdaq Composite grew 61.81 points, or 0.73%, to 8,540.83.

Investors were optimistic about the progress of US- China trade talks as White House Economic Adviser Larry Kudlow said late Thursday that the US and China are drawing closer to striking a trade deal. Mr Kudlow's comments could ease market concerns that flared again early this week amid reports that the trade talks had hit a snag over how and when to reduce tariffs, and what level of agricultural purchases could be expected from China.

 

Chinese Ministry of Commerce spokesman Gao Feng said on Thursday that both countries are holding deep discussions about a "phase one" deal, but noted that the rolling back of some tariffs is key to reaching an agreement.

ECONOMIC NEWS: The US Department of Commerce said Friday retail sales increased 0.3% in October, reversing a 0.3% decline in September.

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