Wall Street stocks push higher, Dow up 7th consecutive day

• Low inflation reading in the US and profit-taking on USD turn investors to stocks.
• Next Tuesday, a Chinese delegation will fly to the US for a second round of trade talks.

The two main American indices, the S&P 500 and the Dow Jones Industrial Average closed higher on the last day of the week while the tech-heavy Nasdaq closed slightly lower as Nvidia fell 2.15% and led the tech-sector down. On the other hand, the Dow posted its 7th consecutive winning day which is its longest winning streak since November 2017. 

US stocks are grinding higher on several factors. Investors are starting to get out of the USD long trade and are turning to riskier assets such as stocks. The 10-year Treasury yield benchmark is also trading lower now below the 3% mark, which is seen as a positive for stocks. 

Meanwhile, the earnings have been stellar so far and the market has not really reacted to them as the uncertainties of the US-China trade war was weighing heavily on the market. As a matter of fact, next Tuesday a Chinese delegation will fly to Washington for a second round of trade talks.

Interestingly, the CBOE Volatility Index, also known as the fear index, is posting its 7th day of consecutive decline which hasn’t been seen for about a year. 

Dow Jones Industrial Average: daily chart