PwC Partner Mitch Roschelle on the state of the markets and the impact of U.S. trade talks with China and Federal Reserve policy.videoA China trade deal priced into the market?

PwC Partner Mitch Roschelle on the state of the markets and the impact of U.S. trade talks with China and Federal Reserve policy.

U.S. stocks edged higher on Friday as investors look ahead to tonight's meeting between President Trump and China's President Xi Jinping, which could potentially ease trade tensions between the two nations.

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Hopes of a deal were tempered this week after reports that Xi would give Trump a set of conditions to be met by Washington before reaching any settlement. There is also the threat of further tariffs on Chinese goods, which Trump mentioned during an interview this week on FOX Business.

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For the month, all three major averages are on pace for gains of more than 6 percent. Trump tweeted about the market's performance on Friday, taking credit for the market's strong performance.

Large-cap U.S. banks rose after the Federal Reserve on Thursday approved capital plans of 16 banks.

TickerSecurityLastChange%ChgI:DJIDOW JONES AVERAGES26591.47+64.89+0.24%SP500S&P 5002935.99+11.07+0.38%I:COMPNASDAQ COMPOSITE INDEX7991.515808+23.76+0.30%

Apple shares dipped after the company said Jony Ive, a close creative collaborator with the iPhone maker's co-founder Steve Jobs, will leave later this year.

Nike moved lower after the company missed analysts' estimates for quarterly profit.

TickerSecurityLastChange%ChgJPMJP MORGAN CHASE & CO.111.79+2.95+2.71%CCITIGROUP INC.69.81+1.66+2.44%AAPLAPPLE INC.198.36-1.38-0.69%NKENIKE INC.83.55-0.12-0.14%

In Asia on Friday, China's Shanghai Composite slipped 0.6 percent and was down 0.8 percent for the week. Hong Kong's Hang Seng lost 0.3 percent but gained 0.2 percent for the week. Japan's Nikkei ended 0.5 percent lower and lost 0.2 percent for the week.

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European markets finished the day higher. London's FTSE added 0.3 percent, Germany's DAX added 1 percent and France's CAC was higher by 0.8 percent.

Source Link:
https://www.foxbusiness.com/markets/us-stocks-wall-street-june-28-2019

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