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Home / Business / The S&P 500 hits a record for notching five straight weeks of winnings

The S&P 500 hits a record for notching five straight weeks of winnings



The stock market capped another week of healthy gains on Friday, but it ended in more of a confused patch than a bang as confusion over the US-China trade war hung over the market.

Stocks fluctuated between small gains and losses throughout the day amid conflicting signals about the progress being made by US and Chinese traders. President Donald Trump said he has not agreed to roll back any tariffs, just a day after a Chinese official said the two sides had agreed to do just that if the talks continue.

Stocks and bond yields dipped immediately after Trump told reporters at the White House, "I didn't say anything." But after flipping through the day, the S&P 500 turned higher during the last hour of trading and closed at a record 3,093.08, up 7.90, or 0.3%.

It is the fifth straight week of index gains, which corresponds to the longest winning series of the last two years.

  In this October 7, 2019, filmmaking specialist Patrick King and merchant Fred DeMarco work on the floor. of the New York Stock Exchange.

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The Dow Jones Industrial Average increased by 6.44 points, or less than 0.1%, to 27,681.24, and the Nasdaq composite gained 40.80, or 0.5%, to 8,475.31.

The general tone of the market will continue to be very cautiously optimistic, "said JJ Kinahan, chief market strategist at TD Ameritrade.