The stock exchanges in New York ended Friday in the green. The small losses were eliminated earlier in the day. Investors looked forward to a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping at the G20 summit in Buenos Aires. In the Argentine capital, Trump also signed a new trade agreement with Canada and Mexico.
Big question mark is whether the meeting between Trump and Xi will lead to improved relations between the United States and China. Trump previously tweeted that “there is still a long way to go” in the trade war with China, but then said that there are “good omens”.
The leading Dow-Jones index closed 0.8 percent higher at 25,538.46 points. The broad S & P 500 index also rose 0.8 percent to 2759.98 points. Technology index Nasdaq also gained 0.8 percent and stood at 7330.54 points.
The investors paid much attention to hotel manager Marriott, which was hit by a large data breach. An internal investigation shows that an entity outside the hotel group has copied and encrypted data and that the Starwood network has been intruded since 2014. A piracy that could have led to the theft of information about half a million people.
Tesla (up 2.7 percent) produced over a thousand pieces of the Model 3 in one day. The maker of electric cars now wants to get the production stable at that level and reduce the costs.
Industrial group General Electric (GE) got a big push after an analyst expressed concern about the liquidity of the company. The share fell 5.5 percent. Deutsche Bank analyst Nicole DeBlase cut her price target by $4 to $7, citing free cash flow concerns.
“The bad news is that in the bear case, GE Industrial [free cash flow] remains in negative territory throughout the forecast period, which extends to 2021,” DeBlase wrote in a note to clients.