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Wall Street edges up on trade optimism

Credit: Reuters Studio
Published on March 28, 2019 - Duration: 01:16s

Wall Street edges up on trade optimism

U.S. stocks climbed on Thursday as Treasury yields rose off 15-year lows, with investors optimistic about the latest round of U.S.-China trade talks.

Fred Katayama reports.

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Wall Street edges up on trade optimism

Signs of progress in U.S.-China trade talks nudged stocks higher on Wall Street Thursday.

The Dow, S&P 500 and Nasdaq gained roughly a third of a percent.

But fears of an economic slowdown kept a lid on gains, after data showed GDP growth slowed more than initially thought in the fourth quarter.

CFRA investment strategist, Lindsey Bell: SOUNDBITE: CFRA INVESTMENT STRATEGIST, LINDSEY BELL, (ENGLISH) SAYING: "It's going to be a push-and-pull depending on, is the yield curve inverting today.

GDP came out.

It was lower than the prior reading but came in line with expectations.

We still have 3 percent GDP growth on a Q4 over Q4 basis, which is a very good number.

The question though is we're in a slowing growth environment.

What does that mean for corporate earnings?

What does that mean for the future of the economy here in the U.S.?" Trade-sensitive industrials and materials stocks led the gainers.

Reuters reported China has proposed unprecedented concessions on trade issues in talks with the U.S. Lululemon shares surged.

Several analysts raised their price targets on the yoga-pants specialist.

The company is aggressively moving into menswear and boosting online sales.

PVH shares shot sharply higher, gaining for the fourth straight session.

The apparel maker behind the Tommy Hilfiger and Calvin Klein brands issued a bullish outlook for full year profit and sales.

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