Wall Street opens at fresh all-time highs on positive sentiment
- Upbeat market mood lifts US stocks higher on Friday.
- Consumer Discretionary Index adds more than 0.5% in early trade.
Wall Street's main indexes hit fresh record highs at the opening bell on Friday as the easing concerns over a prolonged US-China trade war and heightened hopes of global economic recovery gaining momentum on upbeat data from China provided a boost to risk sentiment.
As of writing, the Dow Jones Industrial Average was up 0.25% on the day while the S&P 500 and the Nasdaq Composite were both adding 0.17%.
Earlier in the day, China’s National Bureau of Statistics reported that Industrial Profits rose sharply following October's decline of 9.9% and increased by 5.4% on a yearly basis in November.
Among the 11 major S&P 500 sectors, the Consumer Discretionary Index is up 0.55% to lead the winners. On the other hand, the defensive Utilities Index is down 0.15% on the day.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
