Wall Street swings to split finish ahead of tariffs

Traders work on the floor at the New York Stock Exchange in New York

Stocks climbed broadly on Wall Street in early trading Friday as the market extended a recent rally and closed in on a big weekly gain after four straight weeks of losses.

The Dow Jones Industrial Average edged up 6 points to 26,374.

The S&P index recorded 20 new 52-week highs and no new low, while the Nasdaq recorded 23 new highs and 12 new lows.

Analysts and investors said the gains were driven in part by optimism on the prospects for face-to-face talks in Washington next month among representatives of the world's two biggest economies.

Major U.S. stock indexes ended little changed Friday after a listless day of trading ahead of the Labor Day holiday weekend capped a solid week of gains for the market.

The Dow is up 3,075.82 points, or 13.2%.

Stocks have had a turbulent August amid renewed anxieties surrounding trade, with all three major indexes down at least 1.9% this month.

The monthslong trade war escalated earlier this month when China unveiled new levies on $75 billion worth of USA products.

More news: Chargers G.M.: No new contract for Melvin Gordon

A sharp heightening of tensions this month after the USA and China slapped tariffs on each other's goods, caused panic across global markets and resulted in a key part of the US yield curve, a closely-followed recession indicator, inverting.

Trading turned volatile last month as investors anxious that an escalating trade war between the United States and China, as well as a slowing global economy, could tip the U.S. into a recession. The yield on the 10-year Treasury fell to 1.50% from 1.51% late Thursday.

Bond prices initially fell Friday, pushing yields higher, but then lost momentum. Shares of Estee Lauder Cos Inc EL.N , e.l.f. Beauty Inc ELF.N and Coty Inc COTY.N dropped between 0.5% and 1.3%.

The US and China had given hopeful signs on trade on Thursday as they discussed the next round of in-person negotiations in September. While a basket of upbeat comments reviving hopes of face-to-face trade talks despite tariffs on each other's product, a senior portfolio manager at Globalt Investment in Atlanta, Thomas Martin said, "It sounds to me like more of a continued slow-walking". USA gross domestic product - the broadest measure of the nation's output of goods and services - rose at a seasonally adjusted annual rate of 2% in the second quarter, compared with the previous estimate of a 2.1% rise. Meanwhile, shares of chip makers including Nvidia, Micron Technology and Applied Materials - which have been caught in the crosshairs of the trade battle - added at least 3% apiece.

Technology companies accounted for a big slice of Thursday's gains.

At the close in NYSE, the rose 0.16%, while the index gained 0.06%, and the index lost 0.13%.

The S&P 500 was up 0.4% as of 10:15 a.m.

The S&P 500 is up 417.73 points, or 16.7%.

Related News:

  • Latest update on Hurricane Dorian

    Latest update on Hurricane Dorian

    Dorian's forecast track has shifted east since Friday, making a landfall in Florida less likely but not out of the question. The storm was projected to reach Florida by Labor Day weekend, but current forecasts have it turning north Monday evening.
    Eric Gordon and Houston Rockets reportedly agree on contract extension

    Eric Gordon and Houston Rockets reportedly agree on contract extension

    He's become arguably the team's best perimeter defender, and he's also one of their best finishers at the rim. The deal worths $75.4M, yet it is guaranteed only for the first three years.
    Len Berman and Michael Riedel in the Morning

    Len Berman and Michael Riedel in the Morning

    Trump didn't answer the question directly as to why he was so bothered by Fox now when the network has disagreed with him before. Trump responded by suddenly berating his favorite target, CNN , which he claimed had "begged" him to do an interview.
  • Federer into round of 16; No. 7 Nishikori upset

    Federer into round of 16; No. 7 Nishikori upset

    Federer needed just an hour and 19 minutes to see off Goffin 6-2 6-2 6-0 and progress to a quarter-final with Grigor Dimitrov . Open tennis tournament at USTA Billie Jean King National Tennis Center. "But, yeah, probably my worst match against him".
    Maharashtra: 10 killed, over 40 injured in cylinder blast

    Maharashtra: 10 killed, over 40 injured in cylinder blast

    Chief minister Devendra Fadnavis expressed grief over the deaths, and announced Rs5 lakh compensation to the kin of the victims. The official said that so far there has been reports of eight casualties and almost two dozen people injured in the blast .
    Activist Greta arrives in USA  after sailing to cut down on emissions

    Activist Greta arrives in USA after sailing to cut down on emissions

    The teenager undertook a 3,000-nautical mile voyage from the United Kingdom to America because she refuses to take an aeroplane. Her arrival in NY brings to an end her 14-day journey from England to partake in a United Nations climate summit next month.
  • Astros’ Justin Verlander Throws Third Career No-Hitter Vs. Blue Jays

    Astros’ Justin Verlander Throws Third Career No-Hitter Vs. Blue Jays

    Pitchers who have thrown more no-hitters than Verlander: Nolan Ryan (7) and Sandy Koufax (4). Verlander threw two no-hitters while with the Tigers , including one in Toronto in 2011.
    Bolsonaro limits ban on fires in Brazil to Amazon only

    Bolsonaro limits ban on fires in Brazil to Amazon only

    Chilean President Sebastian Pinera announced that his country will send four water bombers to help fight the Brazilian blazes. During the live video, Bolsonaro again argued that foreign countries are "buying Brazil on installment".
    Hurricane Dorian Now a 'Catastrophic Category 5' Storm

    Hurricane Dorian Now a 'Catastrophic Category 5' Storm

    All eyes are on Hurricane Dorian as it continues its crawl across the Atlantic and makes its way to the U.S. However, please be prepared and finish all hurricane preparations incase this storm changes direction again.
  • Netanyahu ‘frantically’ tried to reach Trump to prevent Iran meeting

    Netanyahu ‘frantically’ tried to reach Trump to prevent Iran meeting

    Trump might be re-elected and that the rustic cannot resist six extra years of the exhausting sanctions he has imposed. Since Trump abandoned the deal, United States sanctions have been reimposed against Iran.
    Arsenal fight back against Spurs to draw London derby

    Arsenal fight back against Spurs to draw London derby

    But the visitors were able to stifle them in the first half, before Arsenal became a threat after the break. But it's Granit Xhaka who will get deservedly get most of the stick should Arsenal go on to lose the game.
    Twitter CEO's account hacked, offensive tweets posted

    Twitter CEO's account hacked, offensive tweets posted

    The platform Twitter was always surrounded by scandals and faced a lot of police hate and abuse on its platform as well. On Friday afternoon, the 30th of August 2019, tweeter account of the Tweeter Inc.

Most liked

Apple released iOS 13.1 beta even before iOS 13 is out
The report notes that there will "safe locations" where the user will not be notified if the item is left in these locations. It is also alleged to come with a removable battery, likely to be a button cell, given the expected size of device.

Trump says US 'not involved' in Iranian rocket failure
Trump was asked Friday if he had released classified information by posting the photo on Twitter . The US has criticised the initiative as a way for Tehran to advance its ballistic missiles.

Saudi-led forces launch air attacks against Houthis
The Western backed alliance said it had taken measures to protect civilians in Dhamar and the assault complied with global law. The UN Special Envoy Martin Griffiths has been shuttling between Sanaa and Riyadh to try to rescue the Stockholm Agreement.

Hours After Shooter Kills Seven In Texas, Gun Laws Are Loosened
In May 2018, a gunman believed to be have been a student at Santa Fe High School killed 10 people and wounded 13 in the school. House Bill 302: prohibits landlords from banning renters and their guests from carrying firearms in lease agreements.

Will Taylor Swift Go on Tour For Lover? She Says…
As the album goes on she has pop songs like Cruel Summer , a song about a desperate summer love that was doomed from the start. With Paper Rings , she explains how when you find a love that really matters, materialistic things don't matter.

Trump doesn't think he's ‘even heard of a Category 5' hurricane
Forecasters expect tropical storm-force winds to increase to hurricane force Monday afternoon through Tuesday. He suspended tolls on major evacuation routes for affected counties, including along the Florida Turnpike.

Five killed, around 21 injured in Texas shooting
Mr Trump said he would be working with Democrats and Republicans on gun legislation when Congress returns this month. Police used a marked SUV to ram the mail truck outside the Cinergy Movie Theater in Odessa, disabling the vehicle.

Hurricane Dorian Ties ‘Strongest Atlantic Hurricane Landfall on Record,’ NHC Says
The storm is predicted to ride along the USA east coast along Florida , Georgia and the Carolinas, Shackelford said. Forecaster expect the storm surge to raise the tide 18 to 23 feet across the Abaco Islands and Grand Bahama Island.

Bahamas pummeled by Hurricane Dorian’s 185-mph winds
Dorian became one of the most intense Atlantic hurricanes ever recorded Sunday as it plowed over the northern Bahamas. The storm's peak sustained-winds rank as the strongest so far north in the Atlantic Ocean east of Florida on record.

Iranian oil tanker no longer has Turkish destination
Lebanon swiftly dismissed the scenario, stressing that it never buys crude oil because it simply does not have refineries. The tanker had listed the Greek port of Kalamata as its final destination, but was not supported by Greece.

US Open: Petra Martic into the last 16
Novak Djokovic of Serbia in action against Juan Ignacio Londero of Argentina during their match on the third day of the US Open . In the victory, Martic won 67 percent of her first serve points and 57 percent of her second serve points.

Cowboys’ Ezekiel Elliott close to contract extension with Dallas
Jones said as recently as Thursday he was operating under the assumption that Elliott would miss regular season games. Elliott noted he wanted to be a Cowboys player for his career but understands the complicated nature of the business.

Where's the pope? Stuck in Vatican elevator until rescue
The head of the Catholic Church said he was stuck for 25 minutes in a Vatican lift and had to be rescued by firefighters. Once freed, the relieved pontiff asked the pilgrims gathered in the square to give the fire brigade a round of applause.

Google to pay up to $200 million to FTC on YouTube probe
It was reported earlier this month that Google will also stop showing targeted ads on videos likely to be watched by minors. The FTC's settlement with Google serves as the newest transfer towards massive tech.

AAA: Labor Day Gas Prices Will Be Lowest in Three Years
When you encounter construction or are in an unfamiliar area, follow the rules of the road and be a courteous driver. According to NHTSA data, in 2017 impaired driving and accounted for just under one-third of all traffic fatalities.