Wall Street is over, optimistic about trade war



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The New York Stock Exchange ended on Friday, taking advantage of a wave of investor optimism about the possibility of resolving a trade dispute between Beijing and Washington after press reports cited joint efforts.

According to final results at the close, Wall Street's main index, the Dow Jones Industrial Average, rose 1.38% to 24,706.35 points.

Nasdaq, with strong technology colors, rose 1.03% to 7,157.23 points.

The broad S & P 500 index rose 1.32% to 2,670.71 points.

The market enthusiastically welcomed the latest Wall Street Journal news, citing the potential for a downgrade or the elimination of US tariffs in China in the context of a trade war.

The atmosphere was slightly broader Friday when Bloomberg reported the possibility of Beijing's commitment to gradually reduce the large trade surplus with the United States and reduce it to zero by 2024.

"We will not have all these signals if there is no anticipation of a real agreement," said Karl Haeling from LBBW.

The relationship between the two countries is in conditions "disbursement" has, meanwhile, been estimated by Wells Fargo analysts. It has been damaged for several months by invectives and reciprocal penalty rates.

– Fourth week of increase –

This news has allowed the index to strengthen their gains for the week, with the Dow up 2.96%, Nasdaq 2.66% and the S & P 500 2.87%, their fourth consecutive week of gains after a chaotic December.

The S & P 500 also managed to surpass the technical limit of 2,600 points this week, which for several weeks has represented a symbolic ceiling that investors cannot pass.

"The market expelled unwelcome investors in December, and now they are back and the recent bad news is quite ignored," Haeling said.

However, Tesla's decline of 12.97% did not go unnoticed on Friday when the electric vehicle manufacturer announced it would cut about 7% of its workforce, more than 3,000 jobs, against the backdrop of a "complicated future". ", in the words of his boss Elon Musk.

Among other values, Netflix lost 3.99%. With nearly 140 million customers worldwide, this group is the leader in streaming video, but this success comes at the cost of expensive races for original production, revealed quarterly results on Thursday night.

American Express (AmEx) credit card issuers take 1.00%. Its share price dropped during the first part of the session after the announcement of disappointing quarterly results, marked by higher costs and increases in terms related to customer defaults.

JPMorgan Chase rose 1.62%. Jamie Dimon, CEO of US banks, will receive $ 31 million for 2018, up 5.1%, a record that could make him the highest leader on Wall Street.

On the bond market, interest rates on ten-year debt rose to 2.787% around 21.40 GMT, against 2.750% Thursday at closing, and 30-year rose to 3.102%, against 3.074% the day before.

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