Sunday , September 27 2020

Hope in the trade dispute: The Dow onesons close at record highs


Encouraging signals in the trade dispute are pushing US stock markets to new heights. The Dow onesons can even hold the record. Strong quarterly reports in the tech sector lead the indexes.

For the first time in its history, the Dow Indexons exceeded 28,000 points. Already at the start of trading, records have broken – driven by renewed hopes in the US-China trade dispute. The leading index in the US gained 0.8 percent to 28,004.89 points. The heavy tech Nasdaq jumped 0.7 percent to 8540.83 points and the broad S&P 500 gained 0.8 percent to 3120.46 points.

Dow onesons
Dow onesons 28,004.89

"Markets stick to the idea that there will be a deal," said SEB strategist Per Hammarlund. US President Donald Trump's economic adviser, Larry Kudlow, under a deal with China could soon stand. The optimistic outlook of the US maker of "applied materials" chips has helped semiconductor companies make a profit. The world's largest chip maker expects higher revenue than analysts expect, thanks to strong demand for processor chips in the first quarter. Shares of applied materials rose nearly nine percent. Headlines for advanced microphones and microphones increased by 1.9 percent.

With relief, investors responded to FC Penny's quarterly results. Shares of the troubled US retail chain accounted for about nine percent. The loss was less than it was afraid of $ 93 million. In the same period of the previous year, the minus was almost twice as large.

Quarterly results above market expectations gave Farfett the biggest jump in company history. Shares of the online luxury retailer jumped nearly 28 percent. The company doubled its revenue to $ 255.5m. The loss was less than it was afraid of $ 0.28 a share. The prospect of a deal in the customs dispute has prompted stock markets in Europe. The Ducks also hit a new high for the year, gaining 0.5 percent to 13241.75 points. The barometer is just under 70 points from its annual peak, and is at an all-time high of 355. EuroStoxx50 rose 0.6 percent to 3711.61 points.

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