Stocks - Dow and S&P Rise on Trade Hope; Nasdaq Falters

13 September 2019, 17: 44
© Reuters.


Wall Street was mixed on Friday, even as trade progress between the U.S. and China boosted investor confidence.



The Dow rose 79 points, or 0.3%, by 9:36 AM ET (13:36 GMT), while the S&P 500 gained 4 points, or 0.2%, and the Nasdaq composite was up 8 points, or 0.1%.



Markets got another boost on Thursday after trade concessions between Beijing and Washington gave hope that the two largest economies in the world would soon settle their differences.



U.S. President Donald Trump said he was potentially open to an interim trade deal with China, although he preferred a comprehensive agreement. Meanwhile on Friday, China’s official Xinhua News Agency said the country would exempt some U.S. pork and soybeans from additional tariffs on U.S. goods.



Pacific Gas & Electric (NYSE:PCG) jumped 8.3% after it said it had reached an $11 billion settlement on wildfire insurance claims, while Tesla (NASDAQ:TSLA) inched up 0.2% and Goldman Sachs (NYSE:GS) gained 0.8%.



Apple (NASDAQ:AAPL) fell 1.7% after analysts at Goldman lowered their target stock price due to concerns that its Apple TV+ free trial is likely to hurt average selling prices. Rival streaming site Netflix (NASDAQ:NFLX) jumped 1.1%.



In commodities, crude oil inched up 0.2% to $55.19 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was down 0.2% to 98.140 and gold futures gained 0.4% to $1,512.05 a troy ounce.