Strong economic data, easing trade worries push Wall Street higher
Thursday, 5 September 2019 23:16 WIB | MARKET UPDATE |DOW JONESS & P 500NasdaqSahamASWallstreet

U.S. stocks hit one-month highs on Thursday on hopes of a de-escalation in trade tensions after Washington and Beijing agreed to hold high-level talks next month, while strong U.S. economic data allayed some concerns of a slowdown.

Wall Street's three main indexes touched their highest level since Aug. 1 and the benchmark S&P 500 index breached its 50-day moving average, a key indicator for short-term momentum.

China's Commerce Ministry said its trade team would lay the groundwork with their U.S. counterparts in mid-September for the October talks.

Technology stocks provided the biggest boost to S&P 500, rising 2.05%, while financials jumped 2.31%, the most among the 11 major S&P sectors.

Interest rate-sensitive banks surged 3%, following a rise in U.S. Treasury yields.

At 11:41 a.m. ET the Dow Jones Industrial Average was up 446.46 points, or 1.69%, at 26,801.93, the S&P 500 was up 41.58 points, or 1.42%, at 2,979.36 and the Nasdaq Composite was up 132.80 points, or 1.66%, at 8,109.68.

Source : Reuters

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