USA stocks trade higher amid economic data

USA stocks trade higher amid economic data

The new trade pact not only received approving nods from the Democrats and Republicans but also from the Chamber of Commerce and the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO).

Investors shrugged off President Trump's impeachment on Thursday, sending all three major stock markets to intra-day trading record highs.

USA stocks rose toward fresh highs Friday, powered by new signs of economic strength that have followed a calm in trade tensions. The Nasdaq Composite Index added 59.48 points, a gain of 0.7%, at 8,887.22, extending its seventh-day winning streak and setting another record.

Investors seem to be cheering US GDP data.

Momentum for stocks has been clearly upward for months and the market is heading into what has historically been a seasonally good period.

Information technology and materials were also among the gainers. Notably, one that forecast that the Dow and S&P 500 were guaranteed to rise at least another 5% on average in the next two months based on a statistical trend pegged to strong returns at the end of October for the main benchmarks has held up. The Russell 2000 index of smaller company stocks picked up 4.81 points, or 0.3 percent., to 1,671.90. Eastern time. Roughly two stocks rose for every one that fell on the New York Stock Exchange.

The 10-year Treasury yield edged to 1.92 percent from 1.91 percent late Thursday.

Despite the last-minute dip, stocks are on track for strong gains this year. Conagra's outcomes additionally lifted different packaged meal makers and helped the S&P 500 client staples index advanced 0.6%. The Nasdaq, which is heavily weighted with technology stocks, is up 33%. Stocks have mostly continued their record-breaking run this week. President Donald Trump's impeachment appeared to have little effect on equities.

"Nothing gets people back in like a rising market", Mr. Slimmon said. "There are no surprises on that front, which is why the market isn't reacting much to it".

Traders had their eye on a mixed batch of corporate earnings reports Wednesday.

Overseas, the Stoxx Europe 600 index climbed 1.5% for the week, while the Hang Seng Index ended up week up 0.7%.

The Nasdaq climbed 190.08 points, or 2.2%. The electric vehicle maker's stock is up 18.1% so far this year. Health care and industrial stocks also notched solid gains.

Energy shares underperform amid falling crude oil prices. Brent crude oil, the worldwide standard, gained 5 cents to $66.59 a barrel. The euro was unchanged, at $1.1121. Heating oil declined 1 cent to $2.02 per gallon. Natural gas rose 6 cents to $2.33 per 1,000 cubic feet.

The dollar rose to 109.47 Japanese yen from 109.28 yen on Thursday.

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