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22.11.2019 22:02:34

Stocks edge higher, but S&P 500 ends six-week streak of weekly gains

Stocks ended slightly higher Friday, but suffered weekly declines as investors weighed prospects for a so-called phase one U.S.-China trade deal. The S&P 500 ended around 7 points higher, up 0.2%, near 3,110, according to preliminary figures, while the Dow Jones Industrial Average advanced 107 points, or 0.4%, to close near 27,874. The Nasdaq Composite ended around 14 points higher near 8,520, up 0.2%. For the week, the S&P 500 saw a 0.3% fall, ending a streak of six weekly gains. The Dow fell 0.5% for the week, while the Nasdaq Composite declined 0.3%. All three major indexes remain near all-time highs. China President Xi Jinping on Friday was quoted as telling a Beijing forum that that the country wants to "work for a phase one agreement on the basis of mutual respect and equality," while President Donald Trump on Friday repeated that there was a "good chance to make a deal." Expectations for a phase one agreement rose in October but have since fluctuated amid reports of disagreements over a range of issues, including the size of Chinese purchases of U.S. agricultural products and the rollback of existing U.S. tariffs on Chinese imports.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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