US stocks rise again on hopes of trade deal

Traders look at price monitors as they work on the floor at the New York Stock Exchange in New York January 3, 2019. — Reuters pic
Traders look at price monitors as they work on the floor at the New York Stock Exchange in New York 3, 2019. — Reuters pic

NEW YORK, Jan 18 — stocks pushed higher today as optimism over a potential US- trade agreement offset mixed earnings reports from Netflix and others.

About 35 minutes into trading, the Dow Jones Industrial Average was up 0.5 per cent at 24,488.57.

The broad-based S&P 500 added 0.6 per cent at 2,650.60, while the tech-rich Nasdaq Composite Index gained 0.3 per cent to 7,105.72.

Analysts said the gains reflected a continuation of the optimism following a report on Thursday that the US was considering lifting tariffs on China as a step to win a broader trade agreement.



A Treasury Department spokesman stressed that there was no decision on the matter but stocks rallied Thursday and continued their upward push on Friday.

Shares of Netflix fell 3.6 per cent as its profits topped analyst expectations but analysts worried that subscriber growth is slowing.

American Express dropped 1.7 per cent after it reported revenues that narrowly missed analyst expectations.

Tesla Motors slumped 8.7 per cent after announcing it would cut seven per cent of its workforce amid a lean profit outlook. — AFP

Source: The Malay Mail Online





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