Wall Street's main indexes climbed on Friday, after a quiet week, as strong...
- Wall Street’s main indexes climbed on Friday, after a quiet week, as strong economic data from China fed into optimism around trade but muted U.S. economic data kept a lid on gains.
“Certainly trade optimism is a driver for the markets right now. If China data continues to improve, that will start to put people’s minds at ease about whether China is in recession,” said Michael Antonelli, market strategist at Robert W. Baird in Milwaukee. The benchmark S&P 500 index is set to snap a three-day losing streak. The index has risen more than 11 percent this year, bolstered by progress in trade talks and the Federal Reserve’s cautious stance on interest rates.
The footwear retailer beat quarterly same-store sales estimates and helped drive a 1.17 percent gain in supplier Nike Inc shares. Among other stocks, Gap Inc surged 19.5 percent, the most on the S&P, after the company said it would separate its better-performing Old Navy brand and shutter about 230 stores of its struggling namesake apparel business.
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