Wall Street closes the week with gains; Trade war begins

Major indexes in the United States closed the day and the week with gains following an upbeat Nonfarm payrolls number and despite the trade war and new tariffs for goods between China and the United States.

Earlier on the day, the Department of Labor reported that the US economy added 213,000 jobs in June, more than expected and an increase in the jobs creation rate from May.

On the other hand, the market expressed its worries about the trade-conflict between China and the United States that started today with the take-into-action of the Trump’s tariffs to China. The Asian country fired back.

By sectors, the energy industry rose 0.97% on the day; however, it is performing almost flat on the month but a substantial rally of 10.3% over the last three months.

Materials advanced 0.75% on the day, it is 0.45% negative on the 1-month timeframe but 4.5% positive in the last three months.

In the bigger picture, the technology sector is rallying 6.7% in the last month, while jumping 23.4% over the previous three months.

Only three sectors are performing negative in the last month, with Financials being the weakest industry with 2.0% losses, followed by real estate with 0.53% decline and Materials, which is 0.45% down in the last month.

The Dow Jones Industrial Average rose 99.75 points or 0.41% on Friday to Close the day at 24,456.48. On the week, the DJIA posted 0.43% gains in the last five days.

The S&P 500 advanced 23.21 points on Friday to close 0.85% up on the day at 2,759.82. On the week, the S&P 500 closed 2.03% positive.

The Nasdaq Composite rallied 101.96 points on Friday to close 1.34% positive on the day at 7,688.39. In the last five days, the Nasdaq posted 3.17% weekly gains.

As a summary, global stocks market closed Friday with gains, the FTSE posted 0.19% gains, the DAX closed 0.26% up on Friday, the CAC 40 finished the last day of the week 0.18% positive, the NIKKEI closed 1.12% up, and the Shanghai Composite is 0.49% positive.

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