The Dow Jones Industrial Average rises by 6 points
The S&P 500 extends its weekly win streak to 5
The S&P 500 posted its fifth straight weekly gain while the Dow rose for a third week in a row. Nasdaq noted in its sixth straight weekly win. The most important averages also hit record highs this week as feelings about US-China trade generally improved. Better earnings than expected from companies such as Disney and Qualcomm also contributed to the weekly gains. To be sure, President Donald Trump poured cold water on trade optimism and said he has not agreed to roll back existing tariffs. Earlier this week, several reports suggested that China and the US were ready to scrap tariffs as part of a Phase 1[ads1] agreement.
Disney shares gained 3.76% after the company had quarterly revenue and earnings that exceeded analysts' expectations. Disney's results and comments to management also aroused enthusiasm around next week's launch of Disney +, the company's video streaming service.