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Post by bot on Mar 1, 2019 15:29:54 GMT -5
Dow rises more than 200 points to kick off March trading
U.S. stock indexes on Friday opened solidly higher, with hope of a final U.S.-China trade pact partly behind the strong start for March. The Dow Jones Industrial Average 205 points, or 0.8%, to 26,117, the S&P 500 index advanced 0.7% at 2,805, while the Nasdaq Composite Index rose 0.7% at 7,582. According to Bloomberg News, U.S. officials were preparing for a summit between President Donald Trump and Chinese leader Xi Jinping, at which a 150-page agreement could be signed. In economic news, the personal-consumption expenditures rose 0.1% in December, compared with the 0.4% increase in November, above economists estimates of a 0.4% decline, according to a MarketWatch survey. The 12-month change in prices remained steady at 1.9%. In corporate news, Foot Locker Inc. shares were in focus Friday, after the sporting goods and apparel retailer topped earnings estimates for its fiscal fourth quarter. Shares of Gap Inc. were in focus after the giant clothing retailer said late-Thursday that it was splitting into two publicly trade companies and closing some 200 stores.
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