Last week, investors weighed positive comments about a Phase 1 trade agreement from President Trump and President Xi against the Federal Communications Commission’s vote to label Chinese telecom giants Huawei and ZTE as national security risks. The three major indexes closed higher Friday but fell for the week. The Dow snapped a four-week winning streak; the S&P broke six weeks of gains, and the NASDAQ ended a seven-week advance. For the week, the Dow fell 0.41 percent to close at 27,875.62. The S&P lost 0.29 percent to finish at 3,110.29, and the NASDAQ dropped 0.25 percent to end the week at 8,519.88.
All three major indexes hit record highs Friday after White House economic adviser Larry Kudlow said current China-US negotiations are “very constructive.” The Dow hit 28,000 for the first time ever. The S&P 500 and the NASDAQ also broke records. For the week, the Dow rose 1.24 percent to close at 28,004.89. The S&P gained 0.94 percent to finish at 3,120.46, and the NASDAQ climbed 0.77 percent to end at 8,540.83.
Stocks closed higher Friday despite losses earlier in the day after President Trump told reporters he had not agreed to reduce tariffs on Chinese imports. All three major indexes still closed at record highs and ended higher for the week. For the week, the Dow rose 1.37 percent to close at 27,681.24. The S&P gained 0.93 percent to finish at 3,093.08, and the NASDAQ climbed 1.06 percent to end the week at 8,475.31.
Stocks rose sharply during November’s first session. The S&P 500 and the NASDAQ surged to new records after a reassuring jobs report. The Labor Department estimated the U.S. added 128,000 new jobs in October and raised its estimate of employment growth for September and August. For the week, the Dow rose 1.44 percent to close at 27,347.36. The S&P gained 1.49 percent to finish at 3,066.91, and the NASDAQ climbed 1.74 percent to end the week at 8,386.40.