Net worth tracking
Login Sign Up
  • All Opinions
  • Top Picks
  • Discover
  • Companies
  • Experts
WATCH LIST
Home » Daily

American stocks soar on news of a tentative “phase one” trade deal with China

Allan TongAllan Tong Posted On October 11, 2019
0
489 Views
0
0
Shares
  • Share On Facebook
  • Tweet It

American stocks leapt Friday upon news of a tentative “phase one” deal in the US-China trade war. New York indices popped at the start of trading Friday on high hopes that both sides were making progress. Markets rose throughout the day, then peeled back to opening bell levels. All three New York indices gained over 1% on Friday, with the Nasdaq rising the most, closing above 8,000 for the first time since Sept. 26. Details are still trickling in, but American tariffs on China that were scheduled to take effect on Tuesday have now been withdrawn.

However, the Huawei issue remains unresolved. What’s taking shape is a trade deal that Trump says will be done in phases. The paperwork in this initial phase could be signed as early as three weeks. That said, trade breakthroughs have been announced before only to be reversed. Further, today’s volumes were lighter than usual. There was broad buying, but the tech sector performed the best. Apple made an all-time new high of $236.21, while bellwether stock, FedEx, jumped nearly 3%.

There was also good news on this side of the border. Canada’s unemployment rate declined 0.2% to 5.5%, surpassing the street’s expectations and driving up the loonie by an impressive 0.7%. Though the TSX modestly rose, the battered energy space enjoyed some rare good news with Tourmaline announcing it was spinning off its royalty division into Topaz Energy Corp. The stock soared 15%. Canadian investors can relax over the Thanksgiving long weekend. Friday’s good vibes even spread across the ocean as the U.K. and the E.U. agreed to “intensify” Brexit talks.

🍎 Apple +2.66
🚛 FedEx +3
⛽ Tourmaline Oil Corp +15

Post Views: 489
0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
Grande West Transportation Group, Aritzia Inc. and More at 52-week Highs (Jan 20-26)
Melisa R. H. January 27, 2021
C3.ai, Inc., Linde PLC and 18 Stock Top Picks (Jan 15-21)
Melisa R. H. January 22, 2021
You may also like
Stocks Exposed to China: Buy These 2 Stocks; Sell This 1 Stock
February 4, 2020
Coronavirus Stock Market Scare: What Stocks to Buy?
January 28, 2020
Canada’s Most Surprising Stocks of 2019
December 17, 2019
One Year of Cannabis Investing: Happy Birthday, Mary Jane!
Read Next

One Year of Cannabis Investing: Happy Birthday, Mary Jane!

  • We're the Stock Chasers
    Hi! We are the Stock Chasers. We write about investing and finance tools we love. We’re passionate about fintech and we invest almost all our affiliate and advertising revenues into the development of Stockchase and Wealthica. We hope you enjoy the stock ideas and product reviews!
  • Join 39,652 Investors

    Winning in the Market eBook
    We deliver stock ideas to your inbox. Sign up free, get the ebook!

  • Top Reviews

    • The Ugly Truth About Identity Theft – Free Credit Report
      10
    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
      8.5
    • Questrade vs Others | The Review Competitors Don’t Want you to Read (2021)
      7.4
  • Popular Posts

    • Grande West Transportation Group, Aritzia Inc. and More at 52-week Highs (Jan 20-26)
    • C3.ai, Inc., Linde PLC and 18 Stock Top Picks (Jan 15-21)
    • Canadian National R.R., Metro Inc and More Earnings Reports this Week (Jan 25-29)
    • Questrade vs Others | The Review Competitors Don't Want you to Read (2021)
    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
  • Stock Lists

    • Hit and Misses: 5 Tempting Tech Stocks
      January 26, 2021
    • 2 Successful Past Picks: Nuvei & Medtronic
      January 19, 2021
    • 4 Proven Financial Stocks Riding the Blue Wave
      January 13, 2021
    • Top 8 ETF Stocks To Watch in 2021
      January 8, 2021
    • Top 10 Finance Stocks To Watch in 2021
      January 7, 2021


  • Get $50 in free trades.


  • Stockchase neither recommends nor promotes any investment strategies.

    About us : Privacy & Terms : Contact us

© Stockchase Inc.
Press enter/return to begin your search