- Markets ignore WH adviser Navarro’s comments on U.S.-China trade talks.
- Industrials and materials post strong gains in early trade.
- Defensive sectors trade in the negative territory to reflect an upbeat sentiment.
Major equity indexes in the United States started the day in the positive territory on Friday. As of writing, the Dow Jones Industrial Average was up 0.5% on the day while the S&P 500 and the Nasdaq Composite were gaining 0.2% and 0.32%, respectively.
During an interview with CNBC earlier today, White House trade adviser Navarro said that trade talks with China were in a “quiet period” but was largely ignored by investors. In fact, the trade-sensitive Industrial and Materials indexes were last adding 0.92% and 0.62% to lead the rally.
On the other hand, the upbeat market sentiment seems to be weighing on the defensive sectors Utilities and Real Estate, which were in the negative territory in the early trade.
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