Dow rises more than 100 points after report Trump and Xi hope to discuss trade in November [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
The Dow Jones Industrial Average jumped on Friday after a report said President Donald Trump and Chinese leader Xi Jinping hope to discuss U.S.-China trade in November. The 30-stock index rose 110.59 points to 25,669.32 after The Wall Street Journal said U.S. and Chinese officials are working on a road map for the meeting to take place. The S&P 500 also rose 0.3 percent to 2,850.13, while the Nasdaq Composite erased earlier losses to close 0.1 percent higher at 7,816.33. If you take the possibility of a trade war with China off the table for a few months that allows the market to work its way higher, said Ed Keon, chief investment strategist at QMA. This has been one of the market's biggest worries. If you put it on the back burner, it's a good thing. Friday's report comes after National Economic Council Director Larry Kudlow confirmed on Thursday earlier reports to CNBC which stated that China and the U.S. would hold a fresh round of trade discussions
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