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MarketWatch MarketPulseFeb 22, 2019
Dow reclaims 26,000 and ends at 3 1/2-month peak as stock market levitates on tariff hope
U.S. stocks finished near their best levels on Friday, with the marking its loftiest close since early November amid continuing hopes for a trade deal between the U.S. and China. The Dow Jones Industrial Average rose 181 points, or 0.7%, at 26,032, the S&P 500 index advanced 0.6% to finish at 2,793, while the Nasdaq Composite Index closed up 0.9% at 7,528, on a preliminary basis. It was the ninth straight weekly gain for the Dow and the Nasdaq, marking the first time since 1964 that the indexes rose in the first 8 weeks of a calendar year. The newfound buoyancy for stocks after a bruising December is largely pegged to softening from the Federal Reserve, who effectively put its interest-rate policy on hold, while growing hopes that Beijing and Washington can strike a tariff pact also are bolstering market optimism, at the moment. All three equity benchmarks finished at their highest levels since Nov. 8. On Friday, President Donald Trump described negotiations with Chin as having a "very good chance" of resulting in a deal, emphasizing that a a March 1 deadline for imposing new sanctions could be extended. In corporate news, shares of Kraft Heinz Co. sank 27.5%, representing its worst decline on record after a number of disclosures.

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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