Stocks rally, oil gains on revived U.S.-China trade hopes

U.S.-China trade hopes revive stocks protests leave scars

Trade-sensitive names such as Caterpillar, Boeing, Apple and Micron Technology all rose at least 0.9%.

The Dow Jones Industrial Average .DJI rose 222.93 points, or 0.8%, to 28,004.89, the S&P 500 .SPX gained 23.83 points, or 0.77%, to 3,120.46 and the Nasdaq Composite .IXIC added 61.81 points, or 0.73%, to 8,540.83.

The three major US stock indexes opened higher and set fresh record highs while equity markets from Tokyo to the major bourses in Europe and across the Americas gained on remarks by White House economic adviser Larry Kudlow on Thursday.

White House Economic Adviser Larry Kudlow is saying the U.S.is in the final stages of achieving "Phase One" of a U.S.

Kudlow said Friday there was still no precise date set.

On Wall Street, the S&P 500 posted its sixth straight week of gains in a rally that has lifted the benchmark index 8% since early October. Today also saw the release of October's U.S. retail sales figure, which beat forecasts and rose from -0.3 percent to 0.3 percent.


" We will certainly have a very first favorable signal if the rate climbs above $1,470, while an additional autumn listed below $1,445 would certainly denote sellers dominating while markets await more news on the trade war or further input from central banks, especially from the (UNITED STATE) Federal Reserve", Carlo Alberto De Casa, chief analyst at Active Trades said in a note.

USA gold futures settled down 0.3% at $1,468.50 per ounce.

The Swiss franc - which fell below the 1.09 threshold on Thursday when risk aversion gripped markets - recovered to trade at 1.09185 per euro, up 0.2% on the day.

Gold fell on Friday as remarks from a White Residence official revived hopes of a U.S.

Benchmark Brent crude gained 37 cents to $62.65 a barrel while West Texas Intermediate crude rose 45 cents to $57.22 a barrel.

Platinum XPT= fell 0.5% to $876.30 per ounce and also was set to register a regular decline of more than 1%.

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