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17-Nov2018

US markets end choppy session mostly in green

The US markets ended choppy session mostly in green on Friday, with Dow Jones gaining around half a percent, as comments from President Donald Trump once again sparked hopes that a trade dispute with China could be resolved in the near term. Trump expressed guarded optimism over US-China trade ties, telling reporters that it may not be necessary to add new tariffs or raise existing ones on Chinese imports, and that he does not want to put China in a bad position. Trump and Chinese President Xi Jinping are scheduled to meet at the sidelines of the G-20 summit in Buenos Aires later this month. Bucking the trend, Nasdaq edged lower, as traders remained on sidelines amid lingering uncertainty about the global economic outlook and renewed anxiety about Brexit.

Meanwhile, a report from the Fed showed a slight uptick in industrial production in the month of October. The Fed said industrial production inched up by 0.1 percent in October after rising by a downwardly revised 0.2 percent in September. Industrial output rose for the fifth consecutive month in October, with strength in the manufacturing sector outweighing softening activity in mining production. Gains in the industrial sector came despite monthly declines in the both the mining and utilities sectors. Street had expected industrial production to rise by 0.2 percent compared to the 0.3 percent increase originally reported for the previous month.

Dow Jones Industrial Average jumped 123.95 points or 0.49 percent to 25,413.22 and S&P 500 rose 6.07 points or 0.22 percent to 2,736.27, while Nasdaq was down by 11.16 points or 0.15 percent to 7,247.87.


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