US Stock exchanges are optimistic on corporate reports, China trade deal

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The US stock markets closed again with record positions on Friday. The vote was still supported by optimism about the Sino-US trade agreement and good quarterly results from companies. In addition, the eyes were on aircraft maker Boeing, who discovered a new software error in problem device 737 MAX.

The Dow-Jones index ended 0.2 percent higher at 29,348.10 points. The broad-based S&P 500 won 0.4 percent to 3329.62 points and the Nasdaq technology fair rose 0.3 percent to 9388.95 points. On Thursday, the indicators also left the market with records.

In China, it was announced that the economy of that country grew at the slowest pace last year in almost three decades. However, retail sales and industrial production in China increased more than expected in the last month of the year. At the macroeconomic level, there were also figures on housing construction and industrial production in the United States. Housing construction increased very strongly in December.

Boeing lost more than 2 percent. Due to the aforementioned shortcoming, it may take even longer before the 737 MAX is allowed back into the air. This is the system that checks on the aircraft whether other monitoring systems are working properly. Boeing is already working on the necessary updates and is in contact with the American aviation authority FAA.

Schlumberger opened the books at the companies. The results were better than analysts had expected and the Schlumberger share won more than 1 percent. The distributor of industrial products Fastenal (minus 1.4 percent) also came up with figures, but did not get the hands of investors together.

Snap, the company behind the Snapchat app, also won nearly 5 percent thanks to an increase in investment advice by UBS. The Swiss bank actually reduced the advice on Twitter (plus 0.1 percent).

The euro was worth $ 1.1092, against $ 1.1095 at the close of the European stock markets earlier in the day. A barrel of American oil became 0.3 percent more expensive at $ 58.67. Brent oil went up by 0.5 percent in price to $ 64.97 per barrel.

About the author

Lesley Woutersen

Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by [email protected]

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