Stocks set to rise as S&P 500 notches fourth consecutive weekly gain - CNBC

U.S. stock index futures rose on Friday as investors wrapped up another solid week of gains.

At around 7:20 a.m. ET, Dow Jones Industrial Average futures indicated a gain of 32 points at the open. Futures on the S&P 500 and Nasdaq 100 also pointed to slight gains.

Wall Street stocks rose to all-time highs in the previous session, as investors appeared to shrug off mixed economic data as well as news of President Donald Trump's impeachment by the House.

Sentiment received a boost when Treasury Secretary Steven Mnuchin said Thursday that he had no doubt trade negotiators representing the U.S. and China would sign their so-called "phase one" trade deal in early January.

Those gains put the S&P 500 on track for its fourth straight weekly gain. Entering Friday's session, the broad index was up 1.2% week to date. The Dow and Nasdaq were up 0.9% and 1.7%, respectively, for the week. 

Wall Street's strong performance this week comes after the U.S. and China reached a phase one trade deal on Dec. 13. Striking that deal temporarily removed the biggest headwind facing the market for most of 2019. 

On the data front, third-quarter real GDP (gross domestic product) figures will be released at 8:30 a.m. ET.

Personal income and consumer spending for November, core personal consumption expenditures (PCE) for November, and the latest Kansas City Federal Reserve survey will all be released as well.

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https://www.cnbc.com/2019/12/20/stock-market-wall-street-in-focus-as-investors-await-economic-data.html

2019-12-20 07:36:24Z
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