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The Dow Jones Industrial Average rose on Friday, heading for its first eight-day winning streak in more than a year, amid improving sentiment around U.S.-China trade relations.
The 30-stock index prospered 68.21 points to 27,250.66
The S&P 500 added 3.37 points to 3,012.94. The NASDAQ Composite nicked forward 1.01 points to 8,195.48
The Dow is looking to surpass an intraday record high of 27,398.68. Through Thursday’s close, the Dow was just 0.8% below that level. The S&P 500 was also within striking distance of its all-time high of 3,027.98.
Trade bellwethers Caterpillar picked up 0.8% and Boeing rose 0.4%,. Those gains were slightly offset by a 1.7% drop in Apple. The tech giant’s stock fell after an analyst at Goldman Sachs cut his price target on Apple to $165 per share from $187.
On the data front, consumer sentiment for September and business inventories for July are scheduled for release at 10 a.m. ET.
Market focus is largely attuned to global trade developments, as the world’s two largest economies continued to prepare for talks in early October aimed at breaking their trade war impasse.
The New York Times reported Friday that China will exempt some U.S. agricultural products, including soybeans and pork, from additional tariffs.
Prices for the benchmark 10-year U.S. Treasury sagged, raising yields to 1.83% from Friday’s 1.79%. Treasury prices and yields move in opposite directions
Oil prices let go of a penny to $55.08 U.S. a barrel.
Gold prices tacked on $6.10 to $1,513.50 U.S. an ounce.
