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US stocks end mostly up despite bad data, China tensions

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Wall Street stocks finished a volatile session mostly higher on Friday (May 29) after newly announced US policies to punish China did not threaten ...

NEW YORK: Wall Street stocks finished a volatile session mostly higher on Friday after newly announced US policies to punish China did not threaten a trade detente between Washington and Beijing.AdvertisementThe broad-based S&P 500 gained 0.5 per cent to 3,044.31, while the tech-rich Nasdaq Composite Index jumped 1.3 per cent to 9,489.87.

But Trump made no mention of the"phase one" trade agreement with China that walked back earlier trade tariffs, nor did he threaten new levies on US imports from the country. A US government survey showed a record 13.6 per cent drop in personal consumption in April, while personal income jumped 10.5 per cent due to the surge in government aid and unemployment payments under federal emergency spending measures.

 

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