Wall Street’s Friday rally extended into Monday as tech and consumer discretionary stocks continued to see gains. Concerns about trade have also eased as discussions resume between the US and China’”it’s been 3 months since the two countries last had face-to-face talks.
- Is the trade dispute done negatively affecting the market?
- Will the market rally continue throughout the week?
(Reuters) – Amazon.com Inc (AMZN.O) and Netflix (NFLX.O) fueled a second straight session of gains on Wall Street on Monday, as the resumption of U.S.-China trade talks helped ease concerns that have pummeled the market in recent months.
The benchmark S&P 500’s .SPX advance added to a 3.4 percent surge on Friday, when strong U.S. jobs data eased worries over the economy and remarks by the Federal Reserve head calmed investors nervous that interest rate hikes would crimp growth.
Fears of a global slowdown have led to a sharp pullback in the markets over the last few months and in analysts’ estimates for corporate growth. But after hitting a 20-month low on Christmas Eve, the S&P has gained over 9 percent.