Dow jumps 400 points, logs best gain in 4 months as Walmart and easing trade fears ignite a rally

The Dow Jones Industrial Average enjoyed its best day in about four months as a rally in shares of retailing giant Walmart Inc. and an apparent easing of China-U.S. trade tensions helped to support a broad rally on Wall Street.

The Dow gained about 400 points, or 1.6%, at 25,559, registering its best one-session rise since April 10, the S&P 500 index rose about 22 points, or 0.8%, at 2,840. All 11 sectors of the broad-market index finished in positive territory, led by a 1.5% gain in consumer-staples and financials up 1.3%. The technology-laden Nasdaq Composite Index meanwhile, gained 0.4% at 7,807.

Walmart’s surge was the big story of the day, with retailing giant and Dow component rising 9.3% and contributing nearly 60 points to the price-weighted Dow, after it reported better-than-expected quarterly results, underscoring the health of the consumer.

The enthusiasm around corporate results and an agreement by China and U.S. officials to meet later in the month to discuss easing their animosities on trade helped to overshadow concerns about the Turkish lira which had underpinned recent fretting about a currency crisis and a possible contagion effect from the country.

Source: Marketwatch

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Dow surges 380 points, on pace for best day in more than 4 months

U.S. stock-index benchmarks surged in early Thursday trade, as strong corporate earnings helped to overshadow Turkey’s currency crisis and as China and the U.S. appeared set to resume trade talks.

The Dow Jones Industrial Average was most recently up 384 points, or 1.5%, at 25,546, more than erasing its Wednesday losses, which was sparked by worries about emerging markets in light of a currency crisis in Turkish lira The rally puts the benchmark on pace for its best one-day gain since April 10, according to FactSet data.

China’s commerce ministry will send a delegation to the U.S. later this month to resume trade talks, according to reports, which would mark the first such meeting since July. Elsewhere, the S&P 500 index was up 28 points, or 1%, at 2,846, while Nasdaq Composite Index advanced 0.9% at 7,844.

Source : Marketwatch

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China Stocks See Best Week in 1 Month as Techs Lend Support

China stocks edged up on Friday to post their best week in a month, aided by strong gains in shares of technology companies.

The blue-chip CSI300 index ended 0.2 percent higher at 3,405.02 points while the Shanghai Composite Index closed flat at 2,795.31 points. For the week, CSI300 is up 2.7 percent while the SSEC gained 2 percent, both posting their best week since mid-July.

However, both the SSEC and CSI300 are down more than 10 pct since late May Technology shares have rallied after China said it has revamped a national leadership group charged with planning and studying its key technological development strategies, signalling a potential policy boost for home-grown tech firms. The tech-heavy start-up board ChiNextP rallied 2 percent this week, snapping a three-week losing streak.

Source : Reuters

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