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 Asian stocks jumped on Friday, lifted by White House comments that suggested the possibility of an imminent trade deal between Washington and Beijing, which revived hopes that their tariff war may be nearing an end.
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"The market wants nothing to do with tech companies that serve the enterprise, but ... it loves the consumer," the "Mad Money" host says.
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World stocks edged lower and debt yields fell on Thursday as Chinese economic data slowed in October and Germany narrowly avoided a recession in the third quarter, adding to concerns about the U.S.-China trade war's impact on global growth.
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 Asian stocks jumped on Friday,
propelled by a record S&P 500 finish and White House comments
suggesting Washington and Beijing were close to striking a trade
deal, reviving hopes the tariff war may near an end.
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The benchmark S&P 500 stock index posted a slim gain to end with a record closing high on Thursday, as a dour forecast from tech stalwart Cisco Systems was offset by a strong report from big box retailer Walmart.
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 (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Jack Ma, the co-founder and former chairman of Alibaba Group Holding Ltd., said trade "turbulence" between the U.S. and China could last 20 years if the two superpowers aren't careful."We have to be very, very careful," Ma said on Thursday in an interview with Bloomberg TV. "We have to solve problems, we should not create more problems." While a full-scale trade war might not last that long, relations could end up rocky for the next two decades, he said. Ma emphasized the importance of the two countries working together and sharing technology.The trade dispute, which has been going on for more than a year and a half, has already ensnared more than 70% of bilateral trade in goods. If the two countries can't resolve at least some of their differences in the coming weeks, the White House on Dec. 15 will add 15% punitive tariffs on $160 billion in Chinese imports. China-based Alibaba, one of Asia's biggest companies, is expected to ride out the storm better than some, thanks to booming online consumption in the world's No. 2 economy. But Alibaba saw its stock dip earlier this fall on reports that the Trump administration was weighing a limit on U.S. government pension funds buying Chinese stocks.The internet giant listed shares in New York in 2014, in the biggest ever initial public offering. It's now readying a share sale in Hong Kong that could raise almost $12 billion. Ma sees the listing as a w
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 Former Uber Technologies Inc. CEO Travis Kalanick is taking advantage of his first opportunity to cash out of the company he co-founded, dumping more than $700 million in stock since last week.
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