Stock Market News: September 13, 2019

Stock futures increased Friday and Dow went for an eighth consecutive increase in gains amid further signs of escalation in the US-China trade war.

Here were the key features of the market ahead of the opening clock of the New York Stock Exchange, as of 08:37 ET:

• S&P 500 futures (ES = F): + 0.27%, or 8.25 points

• Dow futures (YM = F): + 0.37%, or 101.00 points

• Nasdaq (NQ = F): + 0.25%, or 19.75 points

• 10-year Treasury yield (^ TNX ): +3.5 bps to 1.826%

• Gold (GC = F): + 0.51% to $ 1,515.10 per ounce

<p class = "canvas-atom canvas text Mb (1, 0m) Mb (0) – sm Mt (0.8 em) – sm "type =" text "content =" The Chinese government encourages companies to buy "a certain amount" of US farm products including pork and soybeans and will exempt these the items from additional tariffs, & nbsp; China's official Xinhua News Agency said Friday confirming President Donald Trump's earlier claim via Twitter post Thur sday that & nbsp; "China is expected to buy large quantities of our agricultural products. " "data-reactid =" 19 "> The Chinese government encourages companies to buy" a certain amount "of US agricultural products including pork and soybeans and will exempt these items for additional tariffs, China's official Xinhua News Agency said Friday. This confirms President Donald Trump's earlier assertion via Twitter posts Thursday that "China is expected to buy large quantities of our agricultural products."

Such a move will give some respite to American peasants, which has become one of the biggest harms in the trade war with China. It will also be seen as an important gesture of goodwill, with Trump repeatedly crippling Beijing for failing to follow the pledges, including major purchases of US farm products. The country had closed its purchases in August in an apparent retaliatory move after Trump announced additional tariffs on Chinese imports.

<p class = "Canvas Atom Canvas Text Mb (1.0 em) Mb (0) – sm Mt (0.8) em) – sm" type = "text" content = "This comes after some Trump administration officials were & nbsp; reported on Thursday & nbsp; to mutter a temporary trade agreement with China to relieve tensions ahead of another round of trade talks in October. In comments to reporters, Trump said he & nbsp; "would consider" a temporary agreement but would prefer a more permanent agreement. "Data-reactid =" 21 "> All comes after some Trump administration officials reported on Thursday to kill a temporary trade agreement with China to cancel tensions ahead of another round of trade talks in October. In comments to reporters, Trump said he "would consider" a temporary agreement, but would prefer a more permanent agreement.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "During the week, the US and China exchanged olive branches in succession to end the trade war, which has taken a bite of both & nbsp; economies . tariffs & nbsp; on Chinese imports until October 15, two weeks later than previously announced, after China generated a & nbsp; list of 16 U.S. product categories to be exempted from new tariff rates. "data -reactid = "22"> During the week, the US and China have exchanged olive branches in a row to stave off the trade war, which has taken a bite from both countries' economies. Earlier, Trump pushed back the implementation date for additional Chinese import tariffs until October 15, two weeks later than previously announced, after China generated a list of 16 US product categories to be exempted from new tariffs.

Risk weights have responded positively to the trend, with US stocks on rails for a third week's advance, as trading fears at least temporarily. The S&P 500 ended Thursday's session near a record high, reaching within 1% of the record industry reached in July.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "Meanwhile, US and European government bond yields continued to march its higher Friday as sales in safe havens took hold, even after the & nbsp; The Central Bank (ECB) unveiled a package of new stimulus measures & nbsp; on Thursday, including a cut in the bank's key deposit rate. also announced that it would launch a quantitative easing program to help bolster the flagship eurozone. "data-reactid =" 24 "> Meanwhile, US and European government bond yields continued their highs on Friday as safe harbor sales picked up . This came even after the European Central Bank (ECB) unveiled a package of new stimulus measures on Thursday, including a cut in the bank's key policy rate. The ECB also announced that it would launch a quantitative easing program to help boost the flagship eurozone.

Retail sales increased more than expected in August

A broad target for retail sales rose to a larger-than-expected interest rate in August, driven by sales from internet dealers, builders and car dealers.

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The retail headline increased 0.4% in August, & nbsp; Commerce Department reported Friday, compared to an expected gain of 0.2%, according to Bloomberg Compiled Data. "data-reactid =" 27 "> Retail Sales Headline rose 0.4 % in August, the Department of Commerce reported Friday, against the expected gain of 0.2%, according to Bloomberg compiled data.

Apart from sales of cars and gas, retail sales rose only 0.1% for the month, missing expectations of a 0.2% gain and coming off a 0.9% increase in July. Excluding sales of motor vehicles and parts, retail sales were flat for the month, against an expected increase of 0.1% and an increase of 1.0% in July.

August figures come on the heels of a much stronger than expected July report, as retail sales rose 0.8% up for the month. July's gains had been broad-based, driven by strong sales from e-commerce platforms, grocery stores and clothing retailers.

While Friday's report marked a withdrawal from print in July, the results still point to intact consumer activity even in the midst of an ongoing trade war and fears of a financial downturn. Consumer spending drives around 70% of US economic output, and retail sales account for about 25% of personal consumption expenditure.

Commerce Department's latest retail report is the last major piece of financial data before the Federal Reserve begins its next two-day policy meeting on Tuesday.

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<p class = "canvas-atom canvas text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = " Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck "data-reactid =" 59 "> Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

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