Wall Street surges on news of trade progress

Wall Street surges on news of trade progress

By Stephen Culp

NEW YORK (Reuters) - The S&P 500 and the Dow Jones Industrial average extended earlier gains and the Nasdaq turned positive on Friday on reports of potential progress in easing trade tensions between the United States and its trading partners.

"Any conversations we have with China to come up with a deal and any conversations we have with Mexico would be seen as a win for the U.S.," said Jeffrey Frankel, president at Stuart Frankel & Co, in New York.

The Dow Jones Industrial Average <.DJI> rose 148.81 points, or 0.58 percent, to 25,707.54, the S&P 500 <.SPX> gained 11.7 points, or 0.41 percent, to 2,852.39 and the Nasdaq Composite <.IXIC> added 13.00 points, or 0.17 percent, to 7,819.52.

(Reporting by Stephen Culp; Editing by Frances Kerry)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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Updated Date: Aug 18, 2018 01:05:29 IST

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