Stocks closed mostly higher Thursday, with the S&P 500 extending its win streak to a sixth session, as investors continued to monitor trade talks between the U.S. and China, which are reportedly in their final stretch.
How did the benchmarks fare?
The Dow Jones Industrial Average DJIA, +0.64% rose 166.50 points, or 0.6%, to 26,384.63, powered higher by shares of Boeing Inc. BA, +2.89% and Dow Inc. DOW, +4.98% .
The S&P 500 index SPX, +0.21% added 5.99 points, or 0.2%, to 2,879.39, matching its six-day winning streak from February 2018. The Nasdaq Composite Index COMP, -0.05% bucked the trend to fall 3.77 points to 7,891.78.
What drove the market?
U.S.-China trade negotiations remain in the spotlight. Expectations for Washington and Beijing to resolve their differences have been cited as a driver of stock-market gains since late last year. President Donald Trump may announce plans for a summit with China’s President Xi Jinping as early as Thursday when he meets the country’s vice premier, according to The Wall Street Journal.
In a tweet Thursday morning, Trump said the China talks were “moving along nicely” even while taking yet another swipe at the Federal Reserve for raising interest rates last year.
Despite the unnecessary and destructive actions taken by the Fed, the Economy is looking very strong, the China and USMCA deals are moving along nicely, there is little or no Inflation, and USA optimism is very high!
— Donald J. Trump (@realDonaldTrump) April 4, 2019
At the same time, there are reportedly major hurdles to overcome regarding U.S. desires to maintain some tariffs on Chinese goods as a means to ensure Chinese adherence to any deal.
Meanwhile, New York Fed President John Williams told the