Dow jumps more than 250 points on hopes of trade deal, shutdown aversion – Yahoo Finance

Stocks jumped on optimism for a U.S.-China trade deal and a potential agreement among U.S. congressional negotiators to try and avoid another partial government shutdown.

was “unlikely.”‘ data-reactid=”18″>On Monday, White House adviser Kellyanne Conway said on Fox News that President Donald Trump “wants to meet with President Xi [Jinping] very soon,” adding that Trump “wants a deal.” The statements sent equity futures higher, especially after stocks had been weighed on late last week following comments from Trump asserting that a meeting between Xi and him ahead of a March 1 deadline was “unlikely.”

White House statement Friday. U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are set to meet with principal-level Chinese negotiators Thursday and Friday.’ data-reactid=”22″>Although Xi and Trump have yet to meet again in person since agreeing to a trade ceasefire in early December at the G-20 summit, officials within their respective administrations have continued discussions. Delegations from the U.S. and China are meeting in Beijing this week, according to a White House statement Friday. U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are set to meet with principal-level Chinese negotiators Thursday and Friday.

Investors have also continued to monitor the unfolding of negotiations domestically among congressional lawmakers to fund the government and avoid another shutdown. A group of the top congressional appropriators said Monday night that they had reached an agreement in principle to provide funds for the government beyond Friday’s midnight deadline.

Under Armour (UAA) beat expectations in fourth quarter results, earning an adjusted 9 cents per share versus consensus estimates of 4 cents per share. Revenue of about $1.39 billion also slightly exceeded estimates of $1.38 billion, according to Bloomberg data. The company also reiterated its outlook for 2019, expecting revenue growth of 3% to 4%, a gross margin improvement of about 60 to 80 basis points compared to the full year 2018’s 45.1% margin, as well as operating income of $210 million to $230 million. International sales growth has continued to buoy the athletic apparel-maker, with fourth-quarter U.S. revenue decreasing 6% to $965 million while international revenue grew 24% to $395 million.’ data-reactid=”26″>Under Armour (UAA) beat expectations in fourth quarter results, earning an adjusted 9 cents per share versus consensus estimates of 4 cents per share. Revenue of about $1.39 billion also slightly exceeded estimates of $1.38 billion, according to Bloomberg data. The company also reiterated its outlook for 2019, expecting revenue growth of 3% to 4%, a gross margin improvement of about 60 to 80 basis points compared to the full year 2018’s 45.1% margin, as well as operating income of $210 million to $230 million. International sales growth has continued to buoy the athletic apparel-maker, with fourth-quarter U.S. revenue decreasing 6% to $965 million while international revenue grew 24% to $395 million.

Optimism among U.S. small businesses declined in January to 101.2, the lowest since November 2016, according to a report Tuesday from the National Federation of Independent Business. The “35-day partial government shutdown and financial market instability” rattled small business owners, according to the statement, adding that the institution’s uncertainty index rose seven points to 86 in January, or the fifth highest reading in the 45-year history of the survey.’ data-reactid=”33″>Optimism among U.S. small businesses declined in January to 101.2, the lowest since November 2016, according to a report Tuesday from the National Federation of Independent Business. The “35-day partial government shutdown and financial market instability” rattled small business owners, according to the statement, adding that the institution’s uncertainty index rose seven points to 86 in January, or the fifth highest reading in the 45-year history of the survey.

Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck‘ data-reactid=”36″>Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

What Wall Street strategists forecast for the S&P 500 in 2019‘ data-reactid=”39″>What Wall Street strategists forecast for the S&P 500 in 2019

Consumer sentiment plunges to its lowest level since Trump’s election‘ data-reactid=”41″>Consumer sentiment plunges to its lowest level since Trump’s election