U.S. stocks climbed and the Dow and Nasdaq posted a ninth straight week of gains on Friday as investors clung to signs of progress in the ongoing trade talks between the United States and China.
Oil prices touched their highest since mid-November on Friday and posted weekly gains for the second week in a row, boosted by hopes that U.S.-China trade talks would soon produce a deal, although new record U.S. oil supply limited gains.
U.S. stocks were higher in afternoon trading on Friday but pared gains after U.S. officials said the United States and China still have issues to resolve in their ongoing trade talks.
U.S. President Donald trump said on Friday he may or may not include Chinese telecommunications companies Huawei Technologies and ZTE Corp in the trade deal currently being negotiated between the United States and China.
Intel Corp executives said on Friday its 5G modem chips will not appear in mobile phones until 2020, raising the possibility its biggest customer, Apple Inc, will be more than a year behind rivals in delivering a device that uses the faster networks.
New York Governor Andrew Cuomo on Friday ordered two state agencies to investigate a media report that Facebook Inc may be accessing far more personal information from smartphone users, including health and other sensitive data, than had previously been known.
Top U.S. and Chinese trade negotiators met on Friday to wrap up a week of talks that have seen the two sides struggle over the details of structural reform commitments by China, increasing the likelihood of extending the March 1 U.S. deadline for a deal.
Mounting troubles at Kraft Heinz, revealed late on Thursday with a triple-punch of bad news, call into question its reliance on cost-cutting as a way to generate profit growth.
China has agreed to buy up to $1.2 trillion in goods from the United States as part of the current negotiations to end the trade war between the countries, CNBC reported on Friday, citing sources familiar with the situation.
Top U.S. and Chinese trade negotiators met on Friday to wrap up a week of talks that have seen the two sides struggle to detail how to bridge deep differences on China’s role in global commerce.
Kraft Heinz Co shares fell to a record low on Friday a day after the food company disclosed a $15 billion write-down on its marquee brands, raising concern that years of rigorous cost cutting have eroded the value of its Kraft cheeses and Oscar Mayer deli meats.
Oil prices reached their highest levels since mid-November on Friday, boosted by hopefulness that the United States and China would soon reach a trade deal, but new record U.S. oil supply limited gains.
New York Governor Andrew Cuomo on Friday ordered two state agencies to investigate a report that Facebook Inc may be accessing far more personal information from smartphone users, including health and other sensitive data, than had previously been known.
AutoNation Inc said on Friday it has chosen insurance and financial services executive Carl Liebert to succeed longtime Chief Executive Officer Mike Jackson and lead the largest U.S. auto dealership chain at a challenging time, when the domestic vehicle market has been slowing.
U.S. stocks rose on Friday, as technology shares were boosted by signs of progress in the ongoing trade talks between the United States and China.
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