Stocks marched higher Thursday on growing hopes for trade talks between the U.S. and China. China will send a trade envoy to Washington later this month in a new attempt to end the trade dispute before it causes major damage to the global economy.
U.S. retailers and small companies rallied Tuesday as Turkey fears eased. The biggest gains went to small and mid-size companies, which do more business domestically compared to the large multinational firms on indexes like the S&P 500 and the Dow Jones Industrial average. Retailers rose, thanks in part to strong quarterly reports.
U.S. stocks took further losses on Monday as Turkey worries continued. Turkey’s central bank announced measures to help that country’s banks, but the Turkish lira and Turkey’s stock market continued to slide.
Trumoil in Turkey knocked U.S. and European stocks lower on Friday. Turkish President Recep Tayyip Erdogan has accumulated more and more control over the country’s central bank as well as its financial system, which is now run by his son-in-law. Its currency is plunging and Turkey is also in a diplomatic spat with the U.S., a major trading partner.
U.S. stock indexes dipped Wednesday as oil prices hit energy companies. The price of crude oil fell more than 3%.
Banks and technology led stocks higher on Tuesday for the fourth day in a row. Industrial companies rose Tuesday and banks moved higher as interest rates increased. Gains for Microsoft and Google’s parent company Alphabet helped technology companies.
Most stock sectors climbed Monday as companies including Facebook and Netflix recovered some of the losses they sustained recently. Investors continued to focus on companies’ quarterly results instead of the escalating trade threats the U.S. and China made last week.
U.S. stocks rose Friday as companies that pay big dividends surged. U.S. employers added 157,000 jobs last month, fewer than analysts expected. But the Labor Department said more jobs were added in May and June than it previously reported. That made up for the shortfall in July.
U.S. stocks opened lower Thursday as energy and basic materials companies slumped, but those early losses eased as the day went on. Apple jumped again, and became the first publicly traded company to top $1 trillion in market value.
Apple soared on Wednesday, but energy and industrial stocks weighed down the market. Already the most valuable company in the U.S., Apple was the biggest gainer of any S&P 500 stock Wednesday and the technology giant finished at another record high. That made up for a lot of losses elsewhere in the market.