Stocks – Market Rises Modestly on Trade Hopes (Again)

Investing.com – There was, for public consumption, talk about how U.S.-China trade talks were progressing and that was good enough for the stock market to move higher and break a multi-day losing streak Friday.

The was up 0.2%, with the up 0.4%, and the rising 0.16%. The , dominated by big tech, added 0.08%. The S&P 500 and Dow broke three-day losing streaks. The Nasdaq indexes moved up after two days of declines.

The trade talk was just that, with Chinese President Xi Jinping saying the two sides were talking but vowing to walk away if he believes China’s sovereignty is threatened. President Donald Trump said talks were progressing, but he believes the United States should come out ahead.

What does seem more likely is a deal isn’t near and that more tariffs will be imposed on Chinese imports starting Dec. 15, although the stock market is clearly hoping for a phase one deal.

The market was led by gains in the S&P 500’s financial, consumer discretionary, health and industrial sectors.

Boeing (NYSE:) was among the top performers, up more than 1% as the company unveiled its 737 Max 10 jet, which can seat 230. The plane remains grounded, but many investors believe it will be flying again early next year. The stock contributed 25 points to the Dow’s overall gain.

Banks were especially strong with US Bancorp (NYSE:) hitting a 52-week high. Airlines were gainers as oil prices fell back.

Laggards included staples, technology and real estate stocks.

moved lower as traders as worries built about global oversupplies. Interest rates and were flat.

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