Dow, S&P touch record highs on relief from trade concerns

The Dow and the S&P 500 hit record highs on Thursday, clearing away investors’ immediate concerns over trade at the start of this week and leaving Wall Street free to return to a rally that now dates back a decade.

Tech stocks were again at the forefront of gains, led by chipmakers and a 1.1 percent rise in Apple, which has drawn heart from the exclusion of some products from the list of U.S. tariffs on China on Monday.

Nine of the 11 major S&P sectors were higher, and the Dow Industrials, which had lagged the Nasdaq and the S&P, quickly moved back into record territory in morning trade.

The Dow Jones Industrial Average was up 234.42 points, or 0.89 percent, at 26,640.18, the S&P 500 was up 19.10 points, or 0.66 percent, at 2,927.05 and the Nasdaq Composite was up 64.81 points, or 0.82 percent, at 8,014.84.

Chipmakers Intel and Micron rose 1.8 percent and 2.6 percent.

After having slapped new tariffs on each other’s goods this week, China now hopes that Washington will show sincerity and take steps to correct its behavior.

Source: Reuters

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Two Sets of Remains from North Korea ID’d as US Soldiers

Forensic scientists have identified two sets of remains of U.S. troops killed in the Korean War, turned over by North Korea.

U.S. Defense Secretary Jim Mattis made the announcement Tuesday, praising the swift work of the scientists.

“There’s been already some closure for a couple of families that have waited many, many years for this,” Mattis said.

North Korea turned over 55 boxes of what could be U.S. remains after the June summit between President Donald Trump and North Korean leader Kim Jong Un.

One of the boxes contained a U.S. military dog tag, the only obvious piece of evidence that the boxes may contain the bones of Americans.

Using DNA and dental records, it could take forensic experts several years to identify the rest of the remains.

The Pentagon said U.S. and North Korean military officials held negotiations last week on surrendering more remains.

VOA news

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Death Toll From Japan Quake Doubles to 16, PM Says

The death toll from a powerful earthquake that rattled the northern Japanese island of Hokkaido doubled to at least 16, Prime Minister Shinzo Abe said

Friday, with more than half the island’s 5.3 million residents still without power.

The 6.7 magnitude quake, which hit before dawn Thursday, triggered landslides that buried houses and paralyzed Hokkaido with widespread power and transport cuts.

The death toll had been at eight overnight, but broadcaster NHK cited Abe in reporting the new total soon after he held an emergency meeting early Friday.

Another 26 people were missing, disaster management authorities said.

The island, a tourist destination about the size of Austria known for its mountains, lakes and seafood, lost all power after the quake when Hokkaido Electric Power Co. shut its fossil fuel-fired power plants as a precaution.

The utility had restored power to about 1.31 million of 2.95 million customers by early Friday, the Ministry of Economy, Trade and Industry said. It could take at least a week to restore power fully, Industry Minister Hiroshige Seko has said.

The quake was the second disaster to hit Japan this week, after a summer during which the country has been battered by deadly typhoons, flooding and a record heat wave.

Source : VOA

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