The Dow Jones Industrial Average, S&P 500, and Nasdaq all hit record highs Thursday afternoon after positive developments in ongoing trade negotiations between the United States and China.
“U.S. stocks traded higher Thursday, with all three major benchmarks touching new records, after reports that Beijing and Washington will cancel planned import tariffs in stages, a development that could help propel benchmark indexes to new highs,” reports Market Watch.
The Dow rose 260 points while the S&P 500 gained 19 and Nasdaq posted an increase of 64 points.
This is a developing story. Check back for updates.
Source: Market Watch
Original Story: November 1, 2019
The American stock market surged Friday after an October jobs report posted better-than-expected private payroll growth; sending the Dow Jones average up 250-points and the S&P 500 setting a new record.
“The October jobs report was very strong,” said Gus Faucher, chief economist at PNC. “Job growth slowed a bit because of the GM strike, but with the strike over it should bounce back in November.”
“Stock Market up BIG! Record highs for S&P 500 and NASDAQ. Enjoy!” posted the President on social media.
Stock Market up BIG! Record highs for S&P 500 and NASDAQ. Enjoy!
— Donald J. Trump (@realDonaldTrump) November 1, 2019
October job creation topped analyst’s expectations this week; with the US economy adding more than 128,000 positions despite the ongoing worker strike at General Motors.
“Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations,” reports CNBC.
“Even with a decline of 42,000 in the motor vehicles and parts industry, the pace of new jobs well exceeded the estimate of 75,000 from economists surveyed by Dow Jones. The loss of jobs came due to the General Motors strike that has since been settled. That 42,000 job loss itself was less than the 50,000 or more that many economists had been anticipating,” adds the website.
“This report is yet another sign that the economy is still strong right now and adds to a list of indicators that are looking optimistic of late,” said Steve Rick, chief economist at CUNA Mutual Group. “The vigor of this labor market, along with a more positive housing market and solid Q3 GDP, should offer some welcome reassurance.”
The unemployment rate remains steady at 3.6%.
Read the full report at CNBC.
BREAKING NEWS: Dow Jones SOARS 200 Points, Breaks 27,000 for First Time in US HISTORY
The Dow Jones Industrial Average jumped 200 points Thursday afternoon; breaking an all-time high and surpassing 27,000 points for the first time in American history.
“The Dow Jones Industrial Average rallied to a record high on Thursday, led by UnitedHealth shares, after testimony by Federal Reserve Chair Jerome Powell that signaled easier monetary policy could be implemented later this month,” reports CNBC. “The 30-stock average broke above 27,000 for the first time in its history, rising 200 points or 0.8%.”
“Crosscurrents have reemerged,” said Federal Reserve Chair Jerome Powell. “Many FOMC participants saw that the case for a somewhat more accommodative monetary policy had strengthened. Since then, based on incoming data and other developments, it appears that uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the U.S. economic outlook.”
The US Stock Market posted major gains last Monday; with the S&P 500 setting a new record in the first hours of July trading.
“U.S. stocks jumped on Monday after the U.S. and China agreed to hold off on slapping additional tariffs on their products in an effort to resume trade talks,” reports CNBC. “The S&P 500 rose 0.8% and reach an all-time high of 2,977.86, breaking above its previous record of 2,964. The Dow Jones Industrial Average gained 152 points, or 0.6% as Nike and Apple outperformed. The Nasdaq Composite jumped 1.1%.”
“The markets appear to be content with the cooperative tone coming out of the meetings. To me, it felt like the contrarian play was to the upside post meetings,” said Dan Deming, managing director at KKM Financial. “There was a great deal of bearishness in sentiment headed into the meeting. Many market observers were discounting any change in the narrative, which made many believe the risk was to the downside.”
The Dow Jones Industrial Average and S&P 500 inched higher last week; posting the biggest June returns since 1938.
“Recent gains have put the Dow Jones Industrial Average DJIA, +0.14% in position to ring up its best June gain of 7% since 1938 when the blue-chip benchmark surged an eye-popping 24.3% on the month,” reports Market Watch.
Read the full report at CNBC.
BREAKING NOW: Stock Market APPROACHING ALL TIME HIGH, Could Break Record Any Moment
The United States stock market approached its al-time high Tuesday; with investors and industry insiders saying it could smash previous records at any moment.
“The next big test for the stock market will be whether the major indexes can break through all-time highs, just a short distance away,” reports CNBC. “Stocks have rallied on expectations that the Fed should be cutting interest rates in the near future, and that President Donald Trump would stand down from his threat to put tariffs on Mexico, as he did on Friday. The Dow Jones Industrial Average and S&P 500 are both up more about 5% in June. The Dow is up for six-straight days and futures pointed to another big gain Tuesday.”
“Good day in the Stock Market. People have no idea the tremendous potential our Country has for GROWTH – and many other things!” posted the President earlier Tuesday.
Good day in the Stock Market. People have no idea the tremendous potential our Country has for GROWTH – and many other things!
— Donald J. Trump (@realDonaldTrump) June 11, 2019
The stock market surge comes just days after President Trump announced a last-minute deal with Mexico on immigration; suspending a potential 5% tariff on all Mexican-produced goods.
“I am pleased to inform you that The United States of America has reached a signed agreement with Mexico. The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended,” said Trump last Friday. “Mexico, in turn, has agreed to take strong measures to….stem the tide of Migration through Mexico, and to our Southern Border. This is being done to greatly reduce, or eliminate, Illegal Immigration coming from Mexico and into the United States. Details of the agreement will be released shortly by the State Department. Thank you!”