· U.S. stocks rose on Thursday on hopes that top-level U.S.-China trade talks would yield at least a partial deal, while a jump in Apple’s shares also boosted the market.
The Dow Jones Industrial Average .DJI rose 150.66 points, or 0.57%, to 26,496.67, the S&P 500 .SPX gained 18.73 points, or 0.64%, to 2,938.13 and the Nasdaq Composite .IXIC added 47.04 points, or 0.6%, to7,950.78.
Stocks have been volatile in recent weeks because of weak economic indicators showing a contraction in U.S. manufacturing and a bleak reading on business activity, bolstering bets of another interest rate cut by the Federal Reserve to combat a slowdown.
Data on Thursday showed U.S. consumer prices were unchanged in September, while underlying inflation retreated.
· European stocks closed higher Thursday following a choppy session, with investors looking ahead to trade talks between the U.S. and China.
The pan-European Stoxx 600 closed provisionally 0.8%, after fluctuating for much of the session. Trade-sensitive sectors autos and basic resources led the gains, adding over 2% and 3% respectively.
· Stocks in Asia traded higher Friday morning amid positive developments on the U.S.-China trade front.
The Nikkei 225 in Japan rose 0.69% in early trade, while the Topix index added 0.47%. Shares of Fast Retailing, the company behind apparel giant Uniqlo, surged almost 4% after the firm reported a record profit on Thursday. The stock last traded 2.73% higher.
In South Korea, the Kospi jumped 1.01% as shares of LG Chem gained 1.18%. Australia’s S&P/ASX 200 traded 0.79% higher.
U.S. President Donald Trump said in a tweet Thursday that he is set to meet with Chinese Vice Premier Liu He on Friday, raising expectations that progress could be made on the trade front by the two economic powerhouses.
Reference: CNBC, Reuters
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