Wall Street up on China trade hopes - RTHK
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Wall Street up on China trade hopes

2019-02-16 HKT 06:52
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  • Trade talks boosted Wall Street on Friday. Image: Shutterstock
    Trade talks boosted Wall Street on Friday. Image: Shutterstock
Wall Street stocks finished another strong week on a positive note on Friday, rising again on optimism over US-China trade talks.

The Dow Jones Industrial Average jumped 1.7 percent to 25,883 to close its eighth straight week of gains.

The broad-based S&P 500 advanced 1.1 percent to finish at 2,776, while the tech-rich Nasdaq Composite Index won 0.6 percent to end at 7,472.

US President Donald Trump said trade negotiations with China were going "extremely well" and again offered the possibility of extending the March 1 deadline for a sharp rise in punitive tariffs.

It was the latest positive sign on the closely-watched, high-stakes talks.

"There is a lot of optimism that a deal will be done," said Bill Lynch on Hinsdale Associates. "I'll believe it when I see it but it seems that a deal is fairly close."

Investors also greeted Trump's decision to sign a spending bill that averts another government shutdown. (AFP)