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US stocks rise as US industrial output rises

2019-03-15 01:59 pm | Resource: News | No Views : 188

 Wall Street opened gains on Friday after data from the US Federal Reserve showed an increase of 0.1% in US industrial production in February. Meanwhile, investors continued to pay attention to US-China trade talks. Secretary of State Mike Bombo announced that the meeting between Presidents Donald Trump and Xi Jinping, where the new trade deal will be signed, will not take place before mid-April.

US industrial production rose 0.1% in February

US industrial output rose by a seasonally adjusted 0.1 percent in February from a month earlier, according to data released by the Federal Reserve on Friday. However, the slight drop in industrial production was overshadowed by a fall in industrial production, which fell by 0.4% in February to its second monthly decline in a row. In addition, utilities and mining indicators grew by 3.7% and 0.3%, respectively.

On an annualized basis, total industrial production rose by 3.5% in February compared to the same month last year. On the other hand, energy use in the industrial sector fell 0.1 percentage points to 78.2 percent, the same reading in January.

US consumer confidence jumps more-than-expected in March

Preliminary data from the University of Michigan on Friday showed a marked improvement in consumer sentiment in the United States in March. The consumer confidence index jumped to 97.8 in March from a final reading in February at 93.8, the report said. Economists expected the index to rise to 95.3.

The larger-than-expected increase came from the index, with more positive valuations than low-income households than offsetting a decline in morale among households with incomes in the top third.

Pompeo: We hope we can continue to talk with North Korea

Foreign Secretary Mike Bombo told a news conference on Friday he was "optimistic" the United States would continue its talks with North Korea, despite the disappointing outcome of the recent summit in Hanoi. Pyongyang's Vice Foreign Minister Choi Sun-ho said yesterday that her country was considering suspending talks on nuclear disarmament with Washington and blaming the US team for the failure of the summit.

Pompeo pointed out that North Korea's offer to the United States at the last summit simply "did not reach the acceptable level." The diplomat concluded that President Kim Jong-un has vowed not to resume nuclear testing and the United States expects to meet that promise.

Wall Street Opens
  • The Dow Jones Industrial Average rose 0.17% initially, with Intel rising 1.75%, superior to others.
  • The Nasdaq rose 0.14%, with Broadcom gaining 9.77% after reporting earnings results.
  • The S & P 500 rose 0.11% at the opening bell.

The Dollar Index stabilized on Friday as the US and China watched developments as Britain's political scene followed weeks of uncertainty. The euro rose 0.12% against the dollar at 16:33 am, reaching $ 1.13176.

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