Wall Street ends at records, tallies weekly gains

The main US stock indices closed higher on Friday, at new record highs, thanks to the continued optimism about the US-China trade trade deal.

President Donald Trump described the phase-one of the trade pact with China as a historical deal, adding that it will return $250 billion to the US through Chinese purchases of its goods and services.

In like manner, the Chinese officials praised the trade agreement, and expressed optimism about trade relations with the US in the future.

Data showed today that housing starts and building permits in the US housing market rose in December.

China also revealed today that GDP grew by 6% during the fourth quarter of 2019.

To the oil market, West Texas Intermediate crude rose by less than 0.1% to close at $58.54 a barrel, but prices lost 0.9% this week, after hitting a day high of $58.9 and a low of $58.2.

Brent crude gained 0.4% to $64.85, but posted a 0.2% weekly loss, a high of $65.1 and a low of $64.4.

As for stocks, Dow Jones rose by 0.2% to close at 29,348 points, and scored 1.8% gain this week, after it hit a day high 29,373 and a low 29,290.

Nasdaq added 0.3% or 32 points to 9,389 points, and registered weekly gains of 2.3%, with a high of 9,393 and a low of 9,347.

S&P 500 rose by 0.3% or 13 points to 3,329, and posted 2% gain this week, with a day high of 3,329 and a low of 3,319.