Solid Earnings, China News Give Markets a Lift

Dow rises 152
By Newser Editors and Wire Services
Posted Oct 25, 2019 3:06 PM CDT
Solid Earnings, China News Give Markets a Lift
In this Oct. 2, 2019, file photo specialists James Denaro, left, and Mario Picone work on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

Stocks climbed Friday as investors welcomed solid company earnings reports and signs that trade negotiations between the US and China were making progress. The S&P 500 index rose 12 points to 3,022, the Dow Jones Industrial Average rose 152 points to 26,958, and the Nasdaq gained 57 to 8,243. All the gains were under 1%. Technology, financial, and communications services stocks powered the rally, which briefly nudged the S&P 500 index to a record high, per the AP.

Buying accelerated around midday after the US Trade Representative's office issued a statement saying the discussions with China's negotiating team "made headway and the two sides are close to finalizing some sections of the agreement." The trade conflict, which has led both sides to impose billions in tariffs on each other's goods, has roiled financial markets and stoked worries that the dispute could tip the global economy into a recession.

(Read more stock market stories.)

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