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US stocks increase on Friday with the Nasdaq joining the S & P 500 and the Dow Jones Industrial Average in positive territory as optimistic that the United States and China will eventually resolve their fears of compensation foreign trade on the currency crisis of Turkey.
However, weak technology names, notably Tesla Inc., Nvidia Corp. and Applied Materials Inc., are limiting the rise of the Nasdaq.
What are the main benchmarks?
The Dow industrials
DJIA, + 0.43%
gained ground as the session progressed to rise 132 points, or 0.5%, to 25.690, while the S & P 500 index
SPX, + 0.33%
has climbed 10 points, or 0.4%, to 2,851. The Nasdaq composite
COMP, + 0.13%
reversed the direction to get 8 points, or 0.1%, to 7.814.
ETF iShares PHLX Semiconductor
SOXX, -0.81%
a popular index that tracks semiconductor manufacturers, was down 0.8% on the weakness of the quarterly results of Nvidia chip makers
NVDA, -4.87%
and applied materials
AMAT, -7.74%
Thursday, Dow, S & P 500 and Nasdaq Composite
COMP, + 0.13%
are all increased with the blue-chip index that records its best day since April.
Dow and S & P 500 are running for weekly gains of 1.5% and 0.4%, respectively, while the Nasdaq is down 0.3%, hamstrung by weekly drops for Microsoft Corp .
MSFT, -0.06%
Facebook Inc. .
FB, -0.52%
and Google-parent Alphabet Inc .
GOOGL, -0.67%
GOOG, -0.46%
in the last five sessions.
Read: This uptrend market in the United States is only a few days away from the history books
What are the driving markets?
Investors continue to monitor the latest developments on the trade front. Thursday was a reason for optimism because the US and China prepared to resume commercial talks next week. Officials from both countries are also working on a road map to reach a sort of agreement that will lead to a summit between President Trump and Chinese leader Xi Jinping in November, according to the Wall Street Journal.
But Turkey continues to worry that the Turkish currency will fall more than 4% from the US dollar
USDTRY, + 3.5556%
with the dollar acquiring 6,042 lire, compared to the lira 5,8246 delayed in New York.
While the geopolitical issues surrounding trade and Turkey are likely to remain short-term market drivers, investors are also monitoring the final lot of the second quarter results, which risk neutralizing some of the adverse winds from abroad.
What are the strategists Cillet Wealth Advisors described Friday's crash as a "cooling" in a seasonally unstable period for equity markets, with investors following disappointing chip and chipmaking results. a revealing interview of the newspaper with Tesla's managing director, Elon Musk.
"It's a bit refreshing after yesterday and obviously everyone is also watching Elon Musk and some of the chip makers," said Ablin.
"Equity markets had a strong final yesterday for the renewed hopes of a resolution to space trade between the United States and China," he said David Madden analyst of CMC Markets UK in a note.
What stocks are in focus?
Tesla Inc .
The TSLA shares, -8.93%
dropped by 8.6% after the CEO Elon Musk told the New York Times that the year last he had been "atrocious" and "the most difficult and painful" of his career. [19659002] Nvidia and Applied Materials both reported profits at the end of Thursday. The decline in sales of mineral cryptocurrencies weighed on Nvidia, with a 4.8% drop in shares, while a weaker-than-expected drive pushed Applied Materials' shares down 6.2%.
Nordstrom Inc.
JWN, + 13.26%
rose 13% after the retailer posted higher-than-expected earnings and increased prospects.
The agricultural machinery manufacturer Deere & Co.
DE, + 2.35%
fell after publishing a downward growth forecast, but has since recovered until 2.7%.
DSW Inc .
DSW shares, -4.85%
sold 5.7% after the stock was downgraded from neutral to Susquehanna Financial Group due to higher costs and margin pressure .
What economic data is in the spotlight?
The University of Michigan said its consumer confidence index dropped to 95.3 in August, down from 97.9 in July, the lowest level in 11 months. The economists interviewed by MarketWatch expected a reading of 98.5.
Meanwhile, the US main economic indicators increased by 0.6% in July.
Check out: MarketWatch economic calendar
What the other markets did
European stocks were mixed and the Asian markets rose all but the Shanghai composite index of China
SHCOMP, -1.34%
which closed the 1.3%, closing the week down by 4.5% and marking the lowest closing in almost two years.
Oil futures
CLU8, + 0.64%
were higher while the gold
GCZ8, + 0.55%
remained substantially unchanged and the US dollar
DXY, -0.50%
fell by 0.5%.
-Victor Reklaitis contributed to this article
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