U.S. stock indices opened in the record area Friday, after retail sales data rebounded to show growth in October and after White House officials talked again about the prospects of a trade agreement with China
How are the key benchmark portfolios going?
The Dow Jones industrial average
DJIA, + 0.41%
rose 96 points, or 0.3%, to 27,875, while the S&P 500 index
SPX, + 0.39%
COMP, + 0.48%
gained 44 points, or 0.5%, to 8,522.
All three benchmark portfolios traded above their previous record bars and set new intraday highs on Friday morning.
On Thursday, the Dow ended marginally lower, falling 1.63 points to 27,781.96, a day after the Eching had a record close. The S&P 500, meanwhile, tipped further into uncharted territory, rising 2.59 points, or 0.1%, to end at 3,966.63 – that's the 21st record near 2019. Nasdaq Composite edged 3.08 points lower, down less than 0.1%, to finish at 8,479.02.
For the week, Dow is on pace to rise 0.7%, S&P 0.5% and Nasdaq below 0.6%.
Lesson: & # 39; Hindenburg Omen & # 39; and & # 39; Ohama Titanic Syndrome & # 39; form in an important stock market index
What drives the market?
Stock markets have remained weak this week as investors remain hopeful that positive developments in US-China trade relations will soon justify new record highs for major stock indices.
"Investors continue to hang on every word associated with the US and China trade wars," said Russ Mold, investment manager at AJ Clock. "White House economic adviser Larry Kudlow reportedly said the current negotiations between the two countries are" very constructive ", which was enough to drive stock markets across the UK, mainland Europe and most of Asia. "
Kudlow said Thursday the dealers are coming close to an agreement, but that President Donald Trump was not yet ready to step down. Trump "likes what he sees, he is not ready to commit, he has not signed up for a phase one commitment, we have no agreement yet for phase one," he said at a Council on Foreign Relations event, according to to The Wall Street Journal.
The US retail sales growth rebounded in October, rising 0.3% following a 0.3% decline in September, above the 0.2% growth expected by economists surveyed by MarketWatch. Excluding sales of cars and gasoline, however, sales increased 0.1%, below the consensus forecast of 0.4%.
The New York Federal Reserve's November Empire State Index, a measure of regional activity, came in below expectations, with a reading of 2.9 in November, a decline of 1.1 from October and below economists' expectations of a 5.0 reading, according to a MarketWatch poll.
But US industrial output fell the most in 17 months in October, down 0.8%, worse than the 0.5% expected decline by economists polled by MarketWatch. Industrial capacity in use fell to 76.7 in October, the lowest level in just over two years.
Which shares are in focus?
Shares of Applied Materials Inc.
AMAT, + 9.59%
were expected to be in focus after the chip equipment company late Thursday reported a decline of one year ago , but exceeded Wall Street expectations. The company's outlook also supported earlier reports from the chip equipment sector that indicated an improvement for the knocked-down semiconductor industry. Shares fell 7.3% Friday.
Chip maker Nvidia Corp.
late Thursday projected a return to revenue growth after four quarters of declines, hitting projections for quarterly results. Shares rose 0.2% Friday.
Shares of Furniture Manufacturer RH
RH, + 5.36%
was more than 8% Friday after Warren Buffett's Berkshire Hathaway Inc.  ] BRK.B, + 0.32%
BRK.A, + 0.24%
revealed in a regulatory filing that it had purchased 1.2 million shares in the company previously known such as Restoration Hardware.  Berkshire also revealed that it owned nearly 7.5 million shares of Occidental Petroleum Corp.
OXY, + 2.26%
worth about $ 332 million at the end of the third quarter. In April, Berkshire pledged $ 10 billion to help Occidental in its bid for Anadarko Petroleum Corp., giving the company an advantage over Chevron Corp.
CVX, -0.44% ,
who later bowed out of the fight for Anadarko.
Shares of J.C. Penney Co. Inc. . totaled more than 10% after the retail trade reported narrower than expected losses in the third quarter.
How do other markets trade?
Return on the 10-year US Treasury
TMUBMUSD10Y, + 0.19%
rose 2.1 basis points to 1.833% in rising trading hopes, after falling to a weekly low on Thursday.
The price of a barrel of West Texas Intermediate crude oil for December delivery
CLZ19, + 0.83%
rose 16 cents, or 0.3% to $ 56.91, although the item was still in weekly losses. The price of one ounce of gold for delivery in December
dropped $ 5.30, or 0.4%, to $ 1468.10 as the safe harbor lost its appeal.
The value of the US dollar was 0.1% lower, according to the ICE US Dollar index
DXY, -0.19% .
In Asia overnight, shares mixed with China traded CSI 300
falling 0.7% and the Shanghai Composite Index
decreasing 0.6%. Japan's Nikkei 225
NIK, + 0.70% ,
Meanwhile, 0.7% rose while Hong Kong's Hang Seng index
HSI, + 0.01%
was virtually unchanged on the session.
In Europe, shares traded mixed, with Stoxx Europe 600
SXXP, + 0.22%