Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Dow jumps 280 points, set to end week with a flourish as the US-China talks show progress

Dow jumps 280 points, set to end week with a flourish as the US-China talks show progress

U.S. stock indexes on Friday rose sharply higher than investors focused on continued progress in trade negotiations between China and the US in the final day of its weeklong round of discussions. The Dow Jones Industrial Average

                                     DJIA, + 1


rose 280 points, or 1.1%, to 25.724, the S&P 500 index

                                     SPX, + 0.72%

advanced by 0.8% at 2.688, while those for the Nasdaq Composite Index

                                    COMP, + 0.25%

climbed 0.3% to 7.450. For the week, the Dow was on pace for a 2.3% rise, the S&P was set for a 2.2% advance, while the Nasdaq was set to gain 2.2%, for the five-day stretch, or Thursday's close. US-China trade talks wrapped up Friday in Beijing, with reports negotiators deadlocked over key issues, but were set to extend their discussions in to next week in Washington – viewed as a sign that both sides were reaching a deal ahead of March deadline. Markets also responded to a flurry of early morning data: The cost of imported goods fell in January for the third straight month, down 0.5% from December, led by lower oil prices. The Empire State manufacturing index, which is responsible for the health of the New York State manufacturing sector, rose 4.9 points in February to 8.8, above economists expectations of 7.6. U.S. industrial production fell in January for the first time in eight months, the Federal Reserve said Friday. In corporate news, shares of PepsiCo Inc.

                                     PEP, + 2.30%

gained after snack and beverage giant issued fourth-quarter earnings and revenue that were in line with expectations. Looking ahead, the markets await a news conference at 10 am Eastern Time by President Donald Trump, who is expected to declare a state of emergency over border security.

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