Published: Sun, December 08, 2019
Markets | By Otis Pena

US Stocks Edge Higher on Positive Economic Data

US Stocks Edge Higher on Positive Economic Data

U.S. -listed Chinese companies traded mostly higher on Thursday with all of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note. And the hits could keep coming if Friday's Non-Farm Payrolls report disappoints.

The Dow Jones Industrial Average was up by 28.01 points, or 0.10 percent, to 27,677.79.

The S&P 500 index rose 4.67 points, or 0.2%, to 3,117.43. Traders returned from the holiday-shortened week, kicking off December with a sell-off that was fueled by a combination of weak economic data and trade worries. The U.S. Trade Representative introduced Monday a listing of French items that might see tariffs of as much as 100%. The disappointing data sent the major averages tumbling.

A separate report showed that US services industries grew last month, but not as quickly as economists expected. President Donald Trump also said Wednesday that he believed trade talks with Beijing were going 'very well'. "China can cut a deal remains the obsession; arguably the only game in town heading into ahead of the 15-Dec deadline for the next round of tariffs fall due", Mizuho Bank said in a commentary.

"The trade war will be the key driver of sentiment in the immediate few weeks", DBS Group analysts wrote in a report.

"Whether or not U.S". Molson Coors Brewing dropped 1.5% and supermarket operator Kroger fell 3%.

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Negative trade rhetoric from Commerce Secretary Wilbur Ross also put investors on edge after increased expectations that some kind of deal would get signed this month.

The Dow dropped 280 points on Tuesday to one level where it was down as a lot as 457 points after Trump mentioned it might be better to wait until after the election earlier than making a deal with China. -China trade talks were once again the main catalyst on Wall Street as investors cheered apparent optimism around the negotiations.

US stocks traded lower on Thursday as investors digested the latest jobs data. The news could revive fears about the economy's health because the services sector accounts for more than two-thirds of US economic activity. The count was well below the 150,000 consensus from economists surveyed by Dow Jones and the lowest month since May.

Investors hope that the two largest economies in the world will reach a trade agreement before new United States tariffs for some Chinese-made products, including smartphones, come into force on 15 December.

Stocks rise on data despite U.S.

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