Markets

Dow Jones and S&P 500 close at new record highs

2019-11-08 00:22:25 GMT (Economies.com)

The major US stocks indices closed higher on Thursday, on the renewed trade hopes after news about a near agreement between the US and China to gradually remove the tariffs on each other's goods.

 

The Chinese Ministry of Commerce stated that the signing of the first phase trade deal with the US will be held between the two countries' presidents within next few weeks, likely in December. 

 

Experts however still have doubts about the ability of US and Chinese officials to secure a final trade deal for the long term.

 

The US Labor Department that unemployment claims fell by 8,000 to 211,000 during the last week.

 

To oil market, West Texas Intermediate (WTI) rose by 1.4% to settle at $57.15 a barrel, with a session-high of $57.8 and a low of $56.2.

 

Brent rose by 0.9% to $62.29 a barrel, with a high of $62.8 and a low of $61.6.

 

As for stocks, Dow Jones rose by 0.6% or 182 points and closed at 27,675 points, with an intraday high of 27,774 and a low of 27,590.

 

Nasdaq rose by 0.3% or 24 points to 8,434, with high of 8483 and a low of 8415.

 

S&P 500 rose 0.3% or 8 points to close at 3,085, with high of 3,097 and and a low of 3,080.

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