S&P, Dow notch record highs ahead of signing of trade deal
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Sunday
February 05, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
SUNDAY, FEBRUARY 05, 2023
S&P, Dow notch record highs ahead of signing of trade deal

Global Economy

Reuters
15 January, 2020, 10:15 pm
Last modified: 15 January, 2020, 10:18 pm

Related News

  • Fed feeds Wall Street's soft landing hopes, though recession fears still loom
  • Tech stock rebound faces doubters with earnings season ahead
  • Wall St ends 2022 with biggest annual drop since 2008
  • Wall Street's big banks score $1 trillion of profit in a decade
  • Goldman to cut thousands of staff as Wall Street layoffs intensify

S&P, Dow notch record highs ahead of signing of trade deal

The three main Wall Street indexes rose after White House economic adviser Larry Kudlow said negotiations on a Phase 2 deal will begin as soon as the Phase 1 was signed

Reuters
15 January, 2020, 10:15 pm
Last modified: 15 January, 2020, 10:18 pm
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, US, January 14, 2020/ Reuters
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, US, January 14, 2020/ Reuters

The S&P 500 and the Dow Jones indexes set new record highs on Wednesday on a positive tone around trade talks with China from Trump administration officials ahead of the signing of an initial deal later in the day.

The three main Wall Street indexes rose after White House economic adviser Larry Kudlow said negotiations on a Phase 2 deal will begin as soon as the Phase 1 was signed.

China has pledged to increase purchases of US manufactured products, agricultural goods, energy and services as part of the deal, according to a report on Tuesday.

"Kudlow's reiteration that China is going to buy more is positive and anything positive on trade helps markets," said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in New York.

Investor sentiment had earlier been dented by a report that Washington would likely maintain tariffs on Chinese goods until after the presidential election in November.

Meanwhile, disappointing earnings updates from Bank of America and Goldman Sachs weighed on the S&P 500 banking sector.

Bank of America Corp (BAC.N) reported better-than-expected quarterly profit, but warned that of weak net interest income in the first half of 2020, knocking shares 2 percent.

Goldman Sachs Group Inc (GS.N) reported a bigger-than-expected fall in profit as it set aside more money to cover legal costs.

At 10:13 a.m. ET, the Dow Jones Industrial Average .DJI was up 0.45 percent at 29,069.98. The S&P 500 .SPX was up 0.30 percent at 3,293.04 and the Nasdaq Composite .IXIC was up 33.98 points at 9,285.31.

In other earnings-related news, UnitedHealth Group Inc (UNH.N), the largest US health insurer, edged up 2.5 percent as it affirmed its full-year outlook for 2020 adjusted earnings.

Retailer Target Corp (TGT.N) slumped 5.8 percent after it missed its own expectations for 2019 holiday season sales, blaming weakness in toys and electronics sales. Larger rival Walmart Inc (WMT.N) fell 0.9 percent.

Advancing issues outnumbered decliners by a 1.46-to-1 ratio on the NYSE and a 1.63-to-1 ratio on the Nasdaq.

The S&P index recorded 42 new 52-week highs and no new low, while the Nasdaq recorded 95 new highs and 10 new lows.

World+Biz / Top News

US-China Trade Deal / Wall Street

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • ICB to withdraw Padma Bank investment as return eludes
    ICB to withdraw Padma Bank investment as return eludes
  • Some tough tasks on the plate for Bangladesh Bank!
    Some tough tasks on the plate for Bangladesh Bank!
  • Influentials thwart Bangladesh's reform attempts: Economists
    Influentials thwart Bangladesh's reform attempts: Economists

MOST VIEWED

  • FILE PHOTO: The logo of the Securities and Exchange Board of India (SEBI) is pictured on the premises of its headquarters in Mumbai, India March 1, 2017. REUTERS/Shailesh Andrade/Files
    On Adani row, SEBI says it's committed to ensuring market integrity
  • A broker monitors share prices while trading at a brokerage firm in Mumbai January 15, 2019/ Reuters
    Indian watchdog tells investors markets stable despite Adani rout
  • Demonstrators wait in line after entering the Presidential Secretariat premises, after President Gotabaya Rajapaksa fled, amid the country's economic crisis, in Colombo, Sri Lanka July 10, 2022. File Photo: REUTERS/Dinuka Liyanawatte
    Sri Lanka marks independence anniversary amid economic woes
  • Gautam Adani. Photo: Bloomberg
    Bloomberg Billionaires Index: Adani slips from top 20 as rout deepens
  • Photo: Michael Nagle/Bloomberg
    Google, Apple, Amazon give investors reason to fret
  • Goldman Sachs has taken one of the most ambitious approaches to getting employees back to their desks. Photographer: Michael Nagle/Bloomberg
    US reports blowout job growth; unemployment rate lowest since 1969

Related News

  • Fed feeds Wall Street's soft landing hopes, though recession fears still loom
  • Tech stock rebound faces doubters with earnings season ahead
  • Wall St ends 2022 with biggest annual drop since 2008
  • Wall Street's big banks score $1 trillion of profit in a decade
  • Goldman to cut thousands of staff as Wall Street layoffs intensify

Features

Photo: Courtesy

From 'Made in Bangladesh' to 'Designed in Bangladesh'

1h | Panorama
The megaproject Rooppur Nuclear Power Plant has a debt of Tk90,474 crore. Photo: Courtesy

Projects funded with debt need to be selected prudently, and implemented timely

Now | Panorama
Sketch: TBS

Say 'Salud' before your salad main course

1d | Food
Coots running. Photo: Enam Ul Haque

Cute Coot of Baikka Beel: 'And yet he was as bald as a coot'

19h | Panorama

More Videos from TBS

Prioritise medical equipment, raw material imports over luxury items

Prioritise medical equipment, raw material imports over luxury items

16h | TBS Round Table
Adani row rocks India’s parliament

Adani row rocks India’s parliament

15h | TBS World
Concord launches new plant to produce environment friendly bricks

Concord launches new plant to produce environment friendly bricks

21h | TBS Stories
How Asif Khan would invest his fresh funds right now

How Asif Khan would invest his fresh funds right now

22h | TBS Markets

Most Read

1
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected
Panorama

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

2
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
Economy

IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms

3
Fund cut as Dhaka's fast-track transit projects on slow spending lane
Infrastructure

Fund cut as Dhaka's fast-track transit projects on slow spending lane

4
Photo: Collected
Court

Japanese mother gets guardianship of daughters, free to leave country

5
Belal Ahmed new acting chairman of SIBL
Banking

Belal Ahmed new acting chairman of SIBL

6
Photo: Collected
Startups

ShopUp secures $30m debt financing to boost expansion, supply chain

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]