US: Wall Street rises as trade optimism counters weak data

[NEW YORK] The S&P 500 and the Dow Jones Industrial Average snapped a three-day run of losses on Friday as optimism about the prospects for a US-China trade agreement countered downbeat US and China manufacturing data.Following President Donald Trump's announcement last weekend of a delay in higher tariffs on Chinese imports, Bloomberg reported late Thursday that a summit between Trump and his Chinese counterpart Xi Jinping to sign a final trade deal could happen as soon as mid-March.

The Dow Jones Industrial Average rose 110.32 points, or 0.43 per cent, to 26,026.32, the S&P 500 gained 19.2 points, or 0.69 per cent, to 2,803.69 and the Nasdaq Composite added 62.82 points, or 0.83 per cent, to 7,595.35. For the week, the S&P rose 0.4 per cent while the Dow fell 0.02 percent and the Nasdaq rose 0.9 per cent.

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