- Title: S&P 500 approaches all-time high on trade progress
- Date: 25th October 2019
- Summary: NEW YORK, NEW YORK, UNITED STATES (OCTOBER 25, 2019) (REUTERS) (SOUNDBITE) (English) MULTIVARIATE MANAGING PARTNER, MAX WOLFF, SAYING: "Earning seasons tend to be good, and we've certainly had some good news, but we've had some pretty bad macro news mixed into it as well. And the international news doesn't seem terribly strong, particularly ally Europe, which has been a big concern. So, I'm not sure if this isn't just sort of a sentiment rebound. And the scuttlebutt, if you talk to strat desks, which we do a bit at work, is that people are sort of relieved, that there's a consensus is forming that whatever happens with Brexit and whatever happens with the impeachment issues, the market will actually be OK despite them. So, it sort of seems like the market is relieved that the bad news it didn't price isn't going to hurt it. And the number of times that that turns out to be true isn't that high. So, we're going to have to go back to work and refining our signal a little bit. But it is an interesting moment, to say the least, and it's hard to figure out why the market is this relieved"
- Embargoed: 8th November 2019 20:20
- Keywords: Microsoft NYSE results New York Stock Exchange Hennion & Welsh earnings Kevin Mahn 3M closing bell
- Location: NEW YORK, NEW YORK, UNITED STATES
- City: NEW YORK, NEW YORK, UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA002B2LJYX9
- Aspect Ratio: 16:9
- Story Text: The S&P 500 rose on Friday (October 25), briefly surpassing its record closing high, after Washington said it was near to finalizing parts of a trade pact with Beijing.
The Dow Jones Industrial Average rose 150.36 points, or 0.56%, to 26,955.89, the S&P 500 gained 11.96 points, or 0.40%, to 3,022.25 and the Nasdaq Composite added 57.32 points, or 0.7%, to 8,243.12.
(Production: Aleksandra Michalska) - Copyright Holder: REUTERS
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