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Post by bot on Aug 17, 2018 17:38:00 GMT -5
Dow, S&P 500 end the day and week higher buttressed by optimism over China-U.S. trade talks
U.S. stock benchmarks Friday booked a second straight win, capping a volatile week in August that has been marked by jitters about contagion emanating from Turkey, and a resumption of negotiations between China and the U.S. to possibly end a protected tariff spat. The Dow Jones Industrial Average closed up 110 points, or 0.4%, at 25,669, while notching a weekly gain of 1.4%, the S&P 500 index finished the session up 0.3% at 2,850, registering a weekly climb of 0.6%. Meanwhile, the technology-laden Nasdaq Composite Index added 0.1% at 7,816 on the day, lagging behind its equity peers amid concerns about tech giants, including Tesla Inc. and chip makers Applied Materials Inc. and Nvidia Corp. , which both delivered quarterly results that failed to thrill investors and fueled some early weakness among semiconductor shares, as measured by the iShares PHLX Semiconductor ETF . The popular semiconductor, exchange-traded fund finished the session off 0.8%. Meanwhile, the Nasdaq closed out the week 0.3% lower. Turkey's lira closed lower against the dollar, reversing some of the gains of the past few sessions, with the currencies gyrations sparking concerns about the health of emerging markets, while a report from the Wall Street Journal, indicates that Beijing and Washington are set to next week establish the groundwork for a series of talks that may end their testy trade dispute by November.
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