U.S. stocks gain Friday, with the S&P 500 on track to log its longest win streak since October 2017, as investors cheered a solid jobs report and upbeat...
U.S. stocks gained Friday, with the S&P 500 on track to log its longest win streak since October 2017, as investors cheered a solid jobs report and upbeat comments on prospects for a U.S.-China trade deal. However, the Dow industrials struggled for direction as components Dow Inc. DOW, -4.85% and Boeing Co. BA, -0.81% slumped.
Earlier Thursday, Trump said the U.S. and China were “rounding the turn” in lengthy talks and predicted that “something monumental” for both countries could be announced in a matter of weeks. “Overall, the report dovetails very well into the Fed’s current thinking as the labor market conditions remain solid while signs of inflation remain muted which gives them more runway to keep policy rates at the current level,” he said.
Shares of Constellation Brands Inc. STZ, -0.17% fell after a downgrade from a Deutsche Bank analyst who cut his rating on the stock to hold from buy. Boston Beer Co. SAM, -8.00% shares dropped 5.8% after a Goldman Sachs analyst downgraded the alcoholic beverage maker’s stock to sell from neutral.
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