US stocks rise again on hopes of trade deal

New York: Wall Street stocks pushed higher on Friday as optimism over a potential US-China trade agreement offset mixed earnings reports from Netflix and others.

About 35 minutes into trading, the Dow Jones Industrial Average was up 0.5 percent at 24,488.57.

The broad-based S&P 500 added 0.6 percent at 2,650.60, while the tech-rich Nasdaq Composite Index gained 0.3 percent to 7,105.72.

Analysts said the gains reflected a continuation of the optimism following a report on Thursday that the US was considering lifting tariffs on China as a step to win a broader trade agreement.

A Treasury Department spokesman stressed that there was no decision on the matter but stocks rallied Thursday and continued their upward push on Friday.

Shares of Netflix fell 3.6 percent as its profits topped analyst expectations but analysts worried that subscriber growth is slowing.

American Express dropped 1.7 percent after it reported revenues that narrowly missed analyst expectations.

Tesla Motors slumped 8.7 percent after announcing it would cut seven percent of its workforce amid a lean profit outlook.


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