U.S. stock indexes on Friday rose sharply higher as investors focused on continued progress in trade negotiations between China and the U.S. in the final day of its weeklong round of discussions. The Dow Jones Industrial Average DJIA, >+1.74% rose 280 points, or 1.1%, at 25,724, the S&P 500 index SPX, >+1.09% advanced by 0.8% at 2,768, while those for the Nasdaq Composite Index COMP, >+0.61% climbed 0.3% to 7,450. For the week, the Dow was on pace for a 2.3% rise, the S&P was set for a 2.2% advance, while the Nasdaq was set to gain 2.2%, for the five-day stretch, as of Thursday's close. U.S.-China trade talks wrapped up Friday in Beijing, with reports negotiators remained deadlocked over key issues, but were set to extend their discussions in to next week in Washington - viewed as a sign that both sides were eager to reach a deal ahead of March deadline. Markets also were responding to a flurry of early morning data: The cost of imported goods fell in January for the third straight month, down 0.5% from December, led by lower oil prices. The Empire State manufacturing index, which gauges the health of the New York State manufacturing sector rose 4.9 points in February to 8.8, above economists expectations of 7.6. U.S. industrial production fell in January for the first time in eight months, the Federal Reserve said Friday. In corporate news, shares of PepsiCo Inc. PEP, >+2.95% gained after snack and beverage giant issued fourth-quarter earnings and revenue that were in line with expectations. Looking ahead, the markets await a news conference at 10 a.m. Eastern Time by President Donald Trump, who is expected to declare a state of emergency over border security.Nasdaq exits bear market, tallies longest weekly streak in 3 years on U.S.-China trade-talk euphoria
Stocks close higher Friday, with the Dow and the Nasdaq gaining for an eighth straight week, on news of continued progress in trade negotiations between the U.S. and China.
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Source : https://www.marketwatch.com/story/dow-jumps-200-points-at-open-set-to-end-week-with-a-flourish-as-us-china-talks-show-progress-2019-02-15