U.S. stock indexes hit one-month highs Tuesday as Netflix led a tech rally. Health care companies and banks rose as major companies including UnitedHealth and JPMorgan Chase announced their fourth-quarter results.
Indexes in Europe and Asia headed slightly lower after the latest report added more evidence that China’s economy is weakening. Major U.S. indexes fell about 1 percent at the start of trading, but soon recovered much of what they’d lost. Technology companies slumped.
U.S. stocks drifted down slightly Friday in a quiet close to another winning week. It was a day full of broken streaks — oil fell for the first time in two weeks, and the yield on the 10-year Treasury note sank to its first loss in more than a week — but the market remained calm through it. Gradual moves for markets in recent days have offered a respite following the tumultuous trading that rocked investors in late 2018.
CEO Hilton Howell and other execs will ring the exchange’s closing bell on Jan. 11 to mark the company’s purchase of Raycom Media. Gray has been traded on the exchange since 1995.
Industrials led U.S. stocks higher again on Thursday. Stocks struggled in the early going, but transportation and machinery companies climbed after the U.S. Trade Representative said China agreed to buy more agricultural and manufactured products.
On Wednesday, stocks posted their fourth straight day of gains as hopes build for a China trade deal. The last four-day winning streak for the S&P 500 ended in mid-September. The index, the benchmark for many mutual funds, retirement plans and investment professionals, has climbed 9.9 percent since Dec. 24.
Stocks rose again Tuesday as investor hope for a trade breakthrough between the U.S. and China. News reports said the trade negotiations would be extended to a third day, a potential positive sign even though no major developments have been announced so far. Experts say it will take months for them to resolve the causes of the trade war, which include disagreements over Beijing’s handling of technology and intellectual property.
Stocks climbed Monday on trade talks and an encouraging economic report. That helped stocks build on the huge gains they made Friday. The U.S. economy has been a top concern for investors over the last three months, and the strong report on service companies showed that banks, health care and construction companies were holding up well.
Stocks swung to huge gains Friday, driven by hopes for progress in the U.S.-China trade dispute, a strong report on the U.S. jobs market and encouraging comments from the head of the U.S. central bank about its interest rate policy all combined to cheer investors.
Stocks dove Thursday after Apple says its iPhone sales in China have slowed. Apple stock plummeted 10 percent, erasing more than $74 billion in market value. Technology companies and other major exporters, including heavy-machinery companies, also took big losses.