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 U.S. stocks closed at fresh record highs on Friday on revived hopes for a U.S. - China trade deal despite mixed economic data.
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 U.S. stocks swept to fresh records as investors turned more bullish on a trade deal with China and focused on rosy consumer data. The Dow Jones Industrial Average closed about 222 points, 0.8%, higher, just above 28,000. The S&P 500 jumped 24 points, 0.8%, to close at about 3,120. The Nasdaq was about 62 points, 0.7%, higher at the close, at 8,541. Shares of J.C. Penney Co. Inc. jumped after beating earnings expectations for the recent quarter.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Stocks bounced on trade headlines on Friday, but the market could stall out in the week ahead if there is no real progress toward a deal.
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 * U.S., China getting close to trade deal-White House
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Dow breaks 28,000 with big boost from one company Fox BusinessDow hits 28,000 for the first time CNNDOW 28,000! BreitbartDow tops 28,000 as US, China trade deal comes together Fox BusinessStocks- S&P 500 Soars to 6th Weekly Gain By Investing.com
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 Crude prices and global equities markets rose on Friday, with the major U.S. indexes setting record highs, on renewed hopes that the United States and China will reach a deal to de-escalate a 16-month trade war that has crimped global growth.
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Celgene Corp. is required to divest its most popular psoriasis treatment in order to be acquired by Bristol-Myers Squibb Co. , the Federal Trade Commission announced Friday. For Bristol-Myers to close on its $74 billion acquisition, Celgene will have to sell its drug Otezla for $13.4 billion to Amgen Inc. , the FTC said. "The Commission has ordered BMS to divest Otezla to preserve BMS's incentive to continue developing its own oral product for treating moderate-to-severe psoriasis," said FTC Chairman Joseph Simons in a statement. "The antitrust laws protect not only competition today, but competition in the future, especially when it comes to the development of new treatments for chronic conditions." The companies already anticipated the FTC's concerns and agreed to the deal back in August.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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