Dow jumps to session high as Trump says 'very good chance' of China trade agreement

The Dow Jones Industrial Average hit an intraday peak late-morning Friday after an employment report from Labor Department appeared to fuel hopes for a rate cut at the end of the month and as President Donald Trump suggested that a deal in trade could be achieved between Beijing and Washington. The Dow DJIA, +0.90% was up 240 points, or 0.9%, at 26,441, the S&P 500 index SPX, +0.92% climbed 0.9% to 2,937, while the Nasdaq Composite Index COMP, +0.94% rose 0.9% at 7,944. Speaking to reporters at the White House on Friday before a trip, Trump said there was a “very good chance” that a deal on trade could be struck. Chinese and U.S. officials are expected to meet in Washington on Oct. 10-11 to discuss resolving their longstanding trade differences, with the president suggesting that a deal could be achieved before those meetings.

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