U.S. stocks ticked higher on Friday, as cues of easing monetary policy around the globe and signs of further co-operation on Sino-U.S. trade talks kept the S&P 500 within 1% of a record high.
China cut its new one-year benchmark lending rate for the second month in a row, days after the Federal Reserve and the European Central Bank reduced borrowing costs and left the door open for further monetary stimulus.
The S&P 500 and Nasdaq were set to end the week little changed after a rough start, sparked by attacks on Saudi oil facilities. Hopes of additional stimulus calmed investor nerves later in the week.
Investors are hopeful of a de-escalation in U.S.-China trade tensions as the two sides lay the groundwork for negotiations in October, following tariff concessions last week.
The S&P 500 healthcare index, which has been the worst performing S&P sector this year, clocked the biggest gains among the 11 major sectors.
At 11:35 a.m. ET, the Dow Jones Industrial Average was up 45.44 points, or 0.17%, at 27,140.23, the S&P 500 was up 3.35 points, or 0.11%, at 3,010.14.
The Nasdaq Composite was down 12.70 points, or 0.16%, at 8,170.18.
Source : Reuters
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