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In Money Matters

Rumors of progress in trade negotiations pushes Wall Street higher

17th February 2019

Rumors of progress in trade negotiations pushes Wall Street higher Pin It

The stock exchanges in the United States are expected to open higher on Friday. Investors respond to the news that trade negotiations between the US and China will be continued next week. The threat of President Donald Trump to declare a national emergency to obtain funding for the border wall with Mexico still depends on the market. Market parties are preparing for a long weekend. On Monday, Wall Street is closed because of President’s Day.

Both the Americans and the Chinese speak of progress in the trade talks. According to the American trade representative Robert Lighthizer, progress has been made in the face of several difficult issues. Chinese President Xi Jinping said that his country will continue to work hard on an agreement that ultimately satisfies both sides. The two delegations will meet again next week in Washington.

Trump has agreed with the budget proposal of the Republicans and Democrats, preventing a new shutdown of the government. But the president is planning to declare a state of emergency if he does not get his way with the boundary wall. In a state of emergency, a president can act without the consent of the Congress. Nancy Pelosi, chairman of the Democratic-dominated House of Representatives, has already said he will use all legal and legal means to prevent this.

Soft drink and snack producer PepsiCo announced a reorganization. The company cuts into its workforce and closes factories. Partly because of this, the maker of Pepsi cola and Doritos expects a lower profit in the current year. Over the past year PepsiCo posted higher sales and profits in the books.

The profit of the American manufacturer of agricultural machinery Deere came out under market expectations. Deere struggled with an increase in raw material prices and worried about the trade war among customers.

On the macroeconomic front figures include American consumer confidence. Investors will be extra alert for negative outliers, in light of Thursday’s disappointing retail sales.

The leading Dow-Jones index ended Thursday, 0.4 percent lower at 25.439.39 points. The broad S & P 500 fell 0.3 percent to 2745.73 points. Techbeurs Nasdaq gained 0.1 percent at 7426.95 points.

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