Stocks Erase Early Losses to End Mixed as Trump Refrains From Tearing Up U.S.-China Trade Deal
Saturday, 30 May 2020 03:24 WIB |
MARKET UPDATE |DOW JONESS & P 500SahamAS
Stocks reversed early losses to post a mixed finish Friday, capping a strong weekly and monthly performance, after President Donald Trump announced a series of measures aimed at punishing China over its treatment of Hong Kong but refrained from undermining the phase one trade deal reached earlier this year.
The Dow Jones Industrial Average which traded more than 300 points lower as Trump began his announcement, ended the day with a loss of around 18 points, or 0.1%, near 25,383, according to preliminary figures, while the S&P 500 rose around 15 points, or 0.5%, to close near 3,044. The Nasdaq Composite jumped 121 points, or 1.3%, to finish near 9,490.
The Dow logged a weekly gain of 3.8% and rose 4.3% for May, while the S&P 500 saw a 3% weekly rise and a 4.5% monthly advance. The Nasdaq was up 1.8% for the week and 6.8% for May.
Source : Marketwatch