· Stocks rose on Friday, the first day of March, as investors built on the market's strongest start to a year in nearly three decades.
The S&P 500 ended the day up 0.7 percent at 2,803.69, closing above 2,800 for the first time since Nov. 8. The Dow Jones Industrial Average closed 110.32 points higher at 26,026.32 as Nike and Chevron outperformed. The Nasdaq Composite advanced 0.8 percent to 7,595.35, led by gains in Amazon.
The S&P 500 traded around the key 2,800 level for most of this week, briefly breaking above it on Monday and Tuesday on an intraday basis.
· "We know how prominent the 2,800 level has been, and it goes way beyond the last few days," Frank Cappelleri, executive director at Instinet, wrote in a note. "In fact, this now is the 11th visit to the 2,800 zone since the start of 2018."
The S&P 500 and the Dow Jones Industrial Average snapped a three-day run of losses on Friday as optimism about the prospects for a U.S.-China trade agreement countered downbeat U.S. and China manufacturing data.
· European stocks traded higher Friday, beginning the first trading day of March on a positive note.
The pan-European Stoxx 600 finished provisionally up 0.35 percent with almost every sector in positive territory. Autos were the top performing sector, with Faurecia leading the gains, up more than 5 percent. The French auto equipment firm said that it's to buy Clarion and launch a Japan-based business group in April
· U.S. stock futures jumped on Monday on reports the United States and China were close to striking a trade deal after a year-long tariff skirmish while the dollar eased as traders wagered Federal Reserve policy will remain accommodative.
All of that proved positive for risk sentiment with E-mini futures for the S&P500 and the Dow gaining 0.4 percent each while Japan’s Nikkei futures climbed 0.6 percent.
· The Wall Street Journal reported Washington could lift most or all of its tariffs on Beijing while a summit between U.S. President Donald Trump and his Chinese counterpart Xi Jinping to sign a final trade deal could happen later this month.
That followed comments from Trump on Friday that he had asked China to immediately remove all tariffs on U.S. agricultural products because trade talks were progressing well. He also delayed previously scheduled plans to impose 25 percent tariffs on Chinese goods.
· Stocks in Asia rose on Monday morning following a report that China is offering to lower tariffs on certain U.S. products as part of a trade deal with America.
Japan's Nikkei 225 advanced 0.83 percent in early trade while the Topix gained 0.77 percent as shares of robot maker Fanuc jumped 2.15 percent.
Over in South Korea, the Kospi advanced 0.72 percent as industry heavyweight Samsung Electronics saw its stock rise 1.77 percent.
The Wall Street Journal reported Sunday that the U.S. and China are "in the final stage of completing a trade deal," with Beijing offering to lower tariffs on U.S. products in categories ranging from chemicals to autos. For its part, Washington is considering eliminating most if not all of the trade sanctions placed on Chinese goods last year, according to the Journal.
Reference: CNBC, Reuters
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