Wall Street closes flat to higher on US-China deal

Friday, 13. December 2019 22:01

Wall Street closed flat to higher on Friday after a volatile session with the United States-China trade deal in focus. Chinese Vice Minister of Commerce Wang Shouwen confirmed that Beijing reached an agreement with the US on the text of the phase one trade deal and that Washington will begin removing tariffs on Chinese goods phase by phase. US Trade Representative Robert Lighthizer said that the trade deal struck earlier with China will "likely" be signed in January 2020.

On the data front, US business inventories rose by 0.2% in October to reach $2,042.8 billion, while retail and food services sales stood at $528.0 billion in November, a rise of 0.2% from the month before.

The Dow Jones closed flat as American Express grew 1.71%. The Nasdaq 100 rose by 0.25%. led by the Adobe that increased 3.92%. The S&P 500

stood flat as well with PPL Corp being the best performer rising by 6.07%

The euro fell by 0.26% against the dollar to trade at 1.11166 at 4:03 pm ET.

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Breaking the News / TF