The Dow’s feverish rally continued on Friday, but historian Niall Ferguson warned that the US an China are already locked in an unstoppable “Cold War.” | Source: Drew Angerer / Getty Images / AFP
The stock market’s temperature cooled a few degrees on Friday, but that didn’t prevent the Dow from adding to its feverish September rally to close out the week.
However, as Wall Street feasts on rampant trade war optimism, one economic historian warns that disagreements over tariffs are just a surface-level symptom of a far more destructive crisis.
The 21st century’s Cold War has begun.
Dow Jones Winning Streak Reaches Day 3
Wall Street’s three primary indices all rose at the opening bell, though weak jobs numbers served as a sobering conclusion to an otherwise bullish pre-market session.
The Dow Jones Industrial Average climbed 46.71 points or 0.17%. The DJIA last traded at 26,774.86.
The S&P 500 edged 2.83 points or 0.10% higher to 2,978.83. Eight of 11 primary sectors advanced during the morning session.
The Nasdaq crept to a gain of 0.58 points or 0.01%. The tech-heavy index held steady at 8,117.40.
Historian: US & China Now Locked in New ‘Cold War’
The Dow and its peers have soared this week thanks to a healthy dose of positive news on the trade war front.
However, Scottish historian Niall Ferguson warns that the conflict between the US and China has already evolved into a new “Cold War.” And he says a trade deal isn’t going to change that.