The US stock exchanges made a profit on Friday afternoon trading in New York. Investors on Wall Street were positive about the developments surrounding the US-Chinese trade negotiations. They also monitored the Brexit problems. Taxi company Lyft also experienced a glorious stock market debut.
The Dow-Jones index recorded 0.5 percent in the plus at 25.856 points around 18.30 (Dutch time). The broad S&P 500 climbed 0.4 percent to 2826 points and technology level meter Nasdaq won 0.5 percent to 7707 points.
The American finance minister Steven Mnuchin and trade envoy Robert Lighthizer held trade consultations in Beijing. According to their American counterparts, Chinese negotiators are willing to add more water to the wine to reach an agreement. Mnuchin said the conversations were “constructive.” There will be another talk in Washington next week.
Wells Fargo (minus 2.1 percent) was also in the spotlight. CEO Tim Sloan immediately joined the big bank, which recently had to deal with some scandals, including fraud and malpractice among sellers. Chemical company DowDupont recorded 0.1 percent in the minus after a profit alarm. Earnings fell more sharply in the first quarter than the company anticipated.
The euro was worth $ 1.1219 compared to $ 1,1222 at the close of the European stock markets earlier in the day. A barrel of American oil cost 1.4 percent more at $ 60.14. Brent rose 0.9 percent to $ 68.40 a barrel.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.