Stocks took off across the board on Monday as concerns over a trade war abated.
All three major USA indexes ended up more than 2 per cent yesterday following reports that the United States and China were willing to renegotiate tariffs and trade imbalances.
"We saw a really good rally because of potential talks with China", said Dennis Dick, Head of Markets Structure, Proprietary Trader at Bright Trading LLC in Las Vegas. The FTSE 100 index of leading British shares was 2 percent higher at 7,023.
Global markets were rattled last week after President Donald Trump moved to impose tariffs on Chinese imports of up to US$60 billion, adding to the import restrictions already placed on solar panels, steel and aluminum.
The Journal also reported U.S. Treasury Secretary Steven Mnuchin may travel to Beijing to negotiate a deal with China.
The S&P 500 gained 0.12% at 2,661.81 and the Nasdaq Composite rose 0.24%, at 7,238.02.Читайте также: Scott Brown testimonial will see Celtic take on Rep of Ireland
White House officials are asking China to cut tariffs on imported cars, allow foreign majority ownership of financial services firms and buy more USA -made semiconductors, said a person familiar with the discussions.
Some markets in Asia rose after news the United States agreed to excuse South Korea from steel levies and European stocks continued to drop due to trade war fears. Australia's S&P/ASX 200 added 0.7 percent to 5,832.30.
Tech stocks, among the best performing sectors of the bull market, have been under pressure recently as concerns about government regulation stemming from their strong growth and privacy questions surrounding Facebook (FB.O). The two larger point gains for the Dow were in October 2008.
Facebook closed up 0.4 per cent following several days of declines as the US Federal Trade Commission announced it was investigating how the company allowed data of 50 million users to get into the hands of Cambridge Analytica.
The improved mood on trade earlier pushed China's yuan to a two-1/2 year high and gave a fillip to industrial commodities, with copper and iron ore bouncing.
Investors appear to be cheered by signs that the Trump administration's trade policies appear to be producing cooperation and compromise rather than sparking a trade war. All 11 major sectors of the S&P 500 closed in positive territory, led by technology and finance indexes, up 4.0 per cent and 3.2 per cent, respectively.
The U.S. has accused China of unfair trade practices, including intellectual property theft and dumping Chinese goods on the global marketplace to make U.S. goods appear more expensive.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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