United States stocks open higher

United States stocks open higher

United States stocks open higher

On Friday, President Donald Trump reiterated a call for the Fed to cut interest rates. It has reached its highest level since October 9 and is only 1.75% below its all-time closing high.

Volume on USA exchanges was 6.24 billion shares, compared to the 7.33 billion average for the full session over the last 20 trading days. "There's more positive sentiment with respect to a possible deal between the United States and China". "That's why there's a little bit more of a pick-up here".

Shares of major USA chipmakers rallied, contributing to the market.

The Dow Jones Industrial Average on Wednesday was up 39 points, or 0.15 per cent, to 26,218.13.

Seven of the 11 major S&P sectors were higher.

Technology stocks rose 0.4%, rebounding from Thursday's decline as shares of Apple Inc and Microsoft Corp rose.

Gains in Facebook and Boeing shares helped push the S&P 500 forward.

The broad-based S&P 500 advanced 0.5 per cent to 2,892.74, while the tech-rich Nasdaq Composite Index gained 0.6 per cent to 7,938.69. Analysts expect earnings for S&P 500 companies to fall year-over-year for the first time since 2016.

The S&P 500 posted 34 new 52-week highs and no new lows; the Nasdaq Composite recorded 75 new highs and 23 new lows.

Tesla's advance came after a federal judge on Thursday directed the company's chief executive, Elon Musk, to meet with officials from the Securities and Exchange Commission after the agency asked the court to find Musk in contempt for allegedly flouting a settlement with the agency.

Volume on US exchanges was 6.33 billion shares, compared with the 7.37 billion average for the full session over the last 20 trading days.

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