On Monday, the 4th of February, the Wall St. had secured substantial gains, with all of its three indexes shuttering the day over 0.70 percent higher, as the market had been waffling about the prospects of US-China trade relations.
The tech stocks remained upbeat throughout the day, over optimism on resolving conflict of intellectual property transfer, which had been one of the stickiest ends of tariff talks between the two largest economies of the world.
Flamed by a fresh optimism on trade war progress, the Standard & Poor 500 index, alongside the Nasdaq Composite both had closed the day well-above their 100-day moving averages, posting their best levels since October.
Since the tech stocks had fired up the upsurge on Monday’s US financial market, the Microsoft Corp. and Apple Inc. had been found leading the upraise, both closing the day with a gain of 2.7 percent. Meanwhile the gains of Apple and Microsoft had also helped the S&P 500 tech stocks to fasten a gain of 1.6 percent.
On Monday (February 4th), the FAANG stocks had been experienced a mixed momentum, as the Apple and Microsoft had spiked sharply, while the Alphabet Inc.’s Google had fallen over 3 percent.
Citing statistics, at the end of US trading session on Monday (February the 4th), S&P 500 closed the day 0.68 percent higher to 2,724.87 and the Dow Jones Industrial Averages secured a gain of 0.70 percent to 25,239.37 over fresh optimism on US-Chine trade relationships, while the tech-heavy Nasdaq Composite ended the day 1.15 percent higher to 7,347.57, chiefly whizzing the momentum of Monday’s US market.
Referring to the market’s focus on to geo-political headlines, a manager of trading strategy at TD Ameritrade in Jersey City, New Jersey, Shawn Cruz said, “That’s the theme that’s going to be driving markets for the next couple of months, a focus on geopolitical headlines.
There’s not any negative news developing on the trade dispute with China front. That’s giving tech a little bit of a bid today. ”