{"id":1383,"date":"2019-11-16T13:10:30","date_gmt":"2019-11-16T13:10:30","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2019\/11\/16\/us-china-trade-deal-hopes-surging-health-stocks-propel-wall-street-to-record-highs\/"},"modified":"2019-11-16T13:10:30","modified_gmt":"2019-11-16T13:10:30","slug":"us-china-trade-deal-hopes-surging-health-stocks-propel-wall-street-to-record-highs","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2019\/11\/16\/us-china-trade-deal-hopes-surging-health-stocks-propel-wall-street-to-record-highs\/","title":{"rendered":"US-China trade deal hopes, surging health stocks propel Wall Street to record highs"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-1729535 size-full\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/10\/1-251.jpg\" alt=\"On Wall Street, the S&amp;P 500 lost 0.45% on Monday, unable to sustain gains made after positive tweets and news headlines about the trade talks.\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/1-251.jpg 660w, https:\/\/images.financialexpress.com\/2019\/10\/1-251-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/10\/1-251-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/10\/1-251-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"wp-image-1729535 size-full\" src=\"https:\/\/images.financialexpress.com\/2019\/10\/1-251.jpg\" alt=\"On Wall Street, the S&amp;P 500 lost 0.45% on Monday, unable to sustain gains made after positive tweets and news headlines about the trade talks.\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/1-251.jpg 660w, https:\/\/images.financialexpress.com\/2019\/10\/1-251-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/10\/1-251-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/10\/1-251-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">The benchmark S&amp;P 500 tallied its sixth straight week of gains, its longest such weekly streak in about two years, while the Dow breached 28,000 for the first time.<\/span><\/figure>\n<\/div>\n<p><span style=\"font-weight: 400;\">Wall Street\u2019s main stock indexes closed at record levels on Friday, fueled by fresh optimism over a potential calming of U.S.-China trade tensions and by big gains in shares of healthcare companies.\u00a0<\/span><span style=\"font-weight: 400;\">The benchmark S&amp;P 500 tallied its sixth straight week of gains, its longest such weekly streak in about two years, while the Dow breached 28,000 for the first time.\u00a0<\/span><span style=\"font-weight: 400;\">White House economic adviser Larry Kudlow said late on Thursday that the United States and China are getting close to a trade agreement, citing what he called very constructive talks with Beijing.\u00a0<\/span><span style=\"font-weight: 400;\">\u201cToday is definitely about optimism surrounding the trade tensions,\u201d said Jason Pride, chief investment officer of private wealth at Glenmede in Philadelphia.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The stock market has climbed recently to record highs, driven by Federal Reserve interest rate cuts, third-quarter earnings topping low expectations and signs that economic growth may be bottoming, while uncertainty over U.S.-China trade relations remains a wild card.\u00a0<\/span><span style=\"font-weight: 400;\">\u201cIt\u2019s definitely been a big source of volatility over a fairly long period of time for the markets and stocks in general,\u201d Pride said. \u201cTo see some sort of resolution of it would probably be a lift to investors and to equity holders because it takes away a big piece of uncertainty in many investors\u2019, and even corporate executives\u2019, minds.\u201d<\/span><\/p>\n<p><strong>Also read:\u00a0<a href=\"https:\/\/www.financialexpress.com\/market\/reliance-industries-shares-among-top-favourite-of-mutual-funds-in-october-heres-how-much-its-value-rose\/1766407\/\" target=\"_blank\" rel=\"noopener noreferrer\">Reliance Industries shares among top favourite of mutual funds in October; here\u2019s how much its value\u00a0rose<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">The Dow Jones Industrial Average rose 222.93 points, or 0.8%, to 28,004.89, the S&amp;P 500 gained 23.83 points, or 0.77%, to 3,120.46 and the Nasdaq Composite added 61.81 points, or 0.73%, to 8,540.83.\u00a0<\/span><span style=\"font-weight: 400;\">Ten of 11 S&amp;P 500 sectors ended positive. Healthcare led the way, gaining 2.2% for its biggest one-day percentage rise since January, with UnitedHealth Group shares surging 5.3% and Pfizer rising 2.0%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The gains came as President Donald Trump made an announcement on healthcare price transparency. Regulatory and election risks have contributed to the healthcare sector\u2019s underperformance in 2019, said Walter Todd, chief investment officer at Greenwood Capital in South Carolina, noting that perhaps Friday\u2019s gains were \u201ca catch-up trade.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Shares of Applied Materials soared 9.0% after the chip gear maker forecast first-quarter revenue and profit above Wall Street estimates.\u00a0<\/span><span style=\"font-weight: 400;\">The Philadelphia SE Semiconductor index gained 0.9% and hit a record high. Enthusiasm for the group was tempered by a 2.7% decline in Nvidia shares following the chipmaker\u2019s report.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Data on Friday showed U.S. retail sales rebounded in October, but consumers cut back on purchases of big-ticket household items and clothing, which could temper expectations for a strong holiday shopping season.\u00a0<\/span><span style=\"font-weight: 400;\">Advancing issues outnumbered declining ones on the NYSE by a 1.84-to-1 ratio; on Nasdaq, a 1.50-to-1 ratio favored advancers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The S&amp;P 500 posted 52 new 52-week highs and one new low; the Nasdaq Composite recorded 121 new highs and 108 new lows.\u00a0<\/span><span style=\"font-weight: 400;\">About 6.5 billion shares changed hands in U.S. exchanges, below the 6.9 billion-share daily average over the last 20 sessions.<\/span><\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n<div class=\"jobbi-after-content-jh-placement jobbi-entity-placement\" id=\"jobbi-3201621777\"><div id=\"jobbi-2345451404\"><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5862940809620110\" crossorigin=\"anonymous\"><\/script><ins class=\"adsbygoogle\" style=\"display:block;\" data-ad-client=\"ca-pub-5862940809620110\" \ndata-ad-slot=\"\" \ndata-ad-format=\"auto\"><\/ins>\n<script> \n(adsbygoogle = window.adsbygoogle || []).push({}); \n<\/script>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>[ad_1] The benchmark S&amp;P 500 tallied its sixth straight week of gains, its longest such weekly streak in about two years, while the Dow breached 28,000 for the first time. Wall Street\u2019s main stock indexes closed at record levels on Friday, fueled by fresh optimism over a potential calming of U.S.-China trade tensions and by [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":1384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=1383"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1383\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/1384"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=1383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=1383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=1383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}