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13.11.2019 05:20

Major US stock indices closed in positive territory

The main US stock indices rose slightly due, first of all, to the growth of shares in the health and technology sectors.

The focus was also on the speech of US President Donald Trump, who said that the United States and China are close to completing the "first phase" of the trade agreement, but added: "It is we who decide whether we want or do not want to conclude an agreement." The president said his duty policy has seated countries at the negotiating table. “But we will accept the agreement only if it is useful for the United States and our employees, as well as for our wonderful companies,” he added.

Trump said the United States and China reached an agreement in principle last month after the Chinese negotiators arrived in Washington. After that, both sides worked on the final conditions in order to find a way to ensure a meeting between President Trump and President Xi Jinping in order to sign the first part of the agreement. Although the first part is expected to be limited in scope, Trump said the second and third phases will touch on the larger structural issues of the Chinese economy.

Recall, on Friday, the US president said that he had not yet agreed to the abolition of existing tariffs on Chinese imports, but China would "like" to do so. So he reacted to the statement of the Ministry of Commerce of China that Washington and Beijing agreed to simultaneously cancel a number of existing tariffs on goods imported to each other. On Saturday, Trump also announced his intention to conclude a trade agreement with China only if it would be a “right deal” for the United States, adding that negotiations were progressing more slowly than he would have liked.

Most of the DOW components completed trading in the red (17 of 30). Outsiders were shares of Exxon Mobil Corporation (XOM; -1.50%). The biggest gainers were The Walt Disney Co. (DIS; + 1.32%).

Most S&P sectors recorded a decline. The largest decline was shown in the base materials sector (-0.5%). The health sector grew the most (+ 0.4%).

At the time of closing:

Dow 27,691.49 0.00 0.00%

S&P 500 3,091.84 +4.83 +0.16%

Nasdaq 100 8,486.09 +21.81 +0.26%


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