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US stocks rally amid trade optimism, economic data
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Top Stories |
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IANS | 19 Jan, 2019
US stocks rose as Wall Street became more optimistic about potential
progress in trade negotiations between Washington and its key trading
partners while digesting some key economic data.
The Dow Jones
Industrial Average on Friday jumped 336.25 points, or 1.38 per cent, to
24,706.35. The S&P 500 was up 34.75 points, or 1.32 per cent, to
2,670.71, Xinhua news agency reported.
The Nasdaq Composite Index rose 72.76 points, or 1.03 per cent, to 7,157.23.
Trade-sensitive
stocks Caterpillar and Boeing rose 2.18 per cent and 1.57 per cent,
respectively, among the best performers in the 30-stock index.
All
the 11 primary S&P 500 sectors advanced, as energy and industrials
led others higher. Eight of the 11 groups increased more than 1 per
cent. Technology climbed about 1.5 per cent, boosting the Nasdaq.
Tesla
shares plunged 12.97 per cent, leading the decliners in the Nasdaq. The
company was reported on Friday to cut its full-time staff headcount by
about 7 per cent as it ramps up production of its Model 3 sedan.
Netflix
stock sank about 4 per cent. The US online streaming giant reported
mixed fourth-quarter results on Thursday, with earnings exceeding
estimates while revenue missing them.
On the economic
front, US consumer sentiment index fell to 90.7 in January from 98.3 in
December amid growing concerns over US economic growth, said the report
released by the University of Michigan on Friday. The reading missed
market consensus.
US industrial production rose 0.3
per cent in December after a revised 0.4-per cent gain in November, in
line with analysts' estimates, according to data released by the Federal
Reserve.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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