NEW YORK (AFP) – US stocks rose for a fourth consecutive straight session on Tuesday (August 21), with the S & P 500 reaching a record during the session, amid the hope that the US will work to defuse trade conflicts .
The S & P 500, the broadest base of the three leading equity indices, reached a record high of 2,873.23, a new trade record, before falling back to 2.862.96, about 10 points shy versus the highest score ever in January.
The Dow Jones Industrial Average rose advanced by 0.3 percent to 25,822.29, while the Tech-rich Nasdaq Composite Index rose 0.5 percent to 7,859.17.
Investors were applauded by comments from trade secretary Wilbur Ross that he intends to stop a final decision on whether to impose tariffs on car imports, while trade talks with Mexico, Canada and Europe are under way.
In addition, this week American and Chinese officials hold the first talks since June about the ongoing dispute that led to the exchange of tariffs on tens of billions of dollars worth of goods, with more options.
"I am optimistic that the two parties will reach an agreement because there is so much at stake," said Alan Skrainka, Chief Investment Officer at Cornerstone Wealth Management, on the negotiations between the US and China.
"Markets anticipate what can go well." Analysts said the withdrawal of the S & P 500 from the record that followed was normal for stocks, which sometimes require multiple attempts before new benchmarks are set.
"Investors are pretty optimistic that a new record will soon be set," said Sam Stovall, chief investment strategist at CFRA Research.
Among the weaker groups, the shares of TD Ameritrade and Charles Schwab dropped 7.1 percent and 2.4 percent after JP Morgan Chase announced that it would launch a new program for free and discounted stock trading next week. JPMorgan ended with a profit of 0.6 percent.