U.S. Indexes Advance as U.S.-China Trade Talks Continue
Adviser Investments Chief Investment Officer Jim Lowell has the market analysis for Friday, May 10. All major U.S. indexes closed the day with slight gains to reverse a five-day losing streak. The Dow Jones Industrial Average and S&P 500 rose 0.4% and the and NASDAQ Composite gained 0.1%. Similarly, the Shanghai Composite Index advanced 3% as investors in both the U.S. and China expressed optimism that trade negotiations are continuing—despite the 12:01 a.m. tariff increase on $200 billion of Chinese goods. Meanwhile, Uber launched its much-anticipated I.P.O. as its stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. fell more than 7% in intra-day trading, with the company’s valuation falling from $75.5 billion to $69.7 billion.