Dow gains 150 pts on trade optimism

Friday, 15. March 2019 16:53

The Dow Jones increased by 0.59% or approximately 150 points at 11:50 am ET on investors' optimism about the trade negotiations between Washington and Beijing. United States Treasury Secretary Steven Mnuchin said yesterday that a lot of progress has been made in the talks, but that the two presidents, Donald Trump and Xi Jinping will not meet until a final deal is reached.

Tech was the strongest sector on the Dow, with Microsoft increasing 1.80% at 12:01 pm ET, Intel adding 1.59% at the same time, and Apple 1.50% higher at 12:02 pm ET. Meanwhile, the Nasdaq 100 advanced 0.90% at 11:56 am ET, led by Broadcom Inc. gains of 10.11%. The chip maker published its quarterly earnings report yesterday, announcing a 9% increase in annual revenue. The S&P 500 was 0.53% higher at 11:57 am ET.

The euro added 0.19% against the dollar, to change hands for 1.1324 at 11:58 am ET.

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Breaking the News / SS