The US economy continued to roar to life under President Trump heading into the 4th quarter of 2019 Monday; with the S&P 500 index hitting “record highs” on strong earning reports.
“The S&P 500 hit a record high on Monday, breaking above an all-time high set over the summer as investors cheered strong earnings and progress on U.S.-China trade,” reports CNBC. “The S&P 500 rose 0.6% to trade above 3,027.98, the record set on July 26. The Dow Jones Industrial Average gained 0.7%, or 186 points. The Nasdaq Composite climbed 0.7%.”
“The S&P just hit an ALL TIME HIGH. This is a big win for jobs, 401-K’s, and, frankly, EVERYONE! Our Country is doing great. Even killed long sought ISIS murderer, Al-Baghdadi. We are stronger than ever before, with GREAT upward potential. Enjoy!” posted President Trump on social media.
The S&P just hit an ALL TIME HIGH. This is a big win for jobs, 401-K’s, and, frankly, EVERYONE! Our Country is doing great. Even killed long sought ISIS murderer, Al-Baghdadi. We are stronger than ever before, with GREAT upward potential. Enjoy!
— Donald J. Trump (@realDonaldTrump) October 28, 2019
“The US equity markets have been surprised by the strength of the 3Q results,” said Sean Darby, global equity strategist at Jefferies, in a note. “With the US earnings season producing a positive string of results and investors positioning extremely risk averse alongside negative US real interest rates, we believe there is further upside for global equities.”
Read the full report at CNBC.
STOCKS SURGE: Dow Rises 250 POINTS After Trump Unveils New Trade Agreement
The Dow Jones Industrial Average jumped more than 250 points Monday afternoon after the Trump administration secured a new North American free trade agreement with Canada and Mexico.
According to CNBC, “stocks rose sharply” hours after the White House confirmed the international agreement Sunday night.
“The Dow Jones Industrial Average rose 264 points as American Express and Boeing outperformed. The S&P 500 gained 0.8 percent, led by 1 percent jumps in materials and industrials. The Nasdaq Composite advanced 0.7 percent as Amazon and Apple both climbed more than 1 percent,” writes CNBC.
“The biggest risk factor [in the market] is a trade war and we’ve dialed that down a bit,” added one industry insider.
The new trade agreement will ease access for American farm workers and the US automobile industry into Canadian and Mexican markets.
Read the full story at CNBC.
STOCKS SURGE: Dow Rises for 8 Consecutive Days, Markets Near All-Time High
The US Stock Market continued to inch higher for the eight consecutive day Friday; nearing an all-time high as US and Chinese negotiators continue to search for a trade deal between the planet’s two largest economies.
“The Dow is looking to surpass an intraday record high of 27,398.68. Through Thursday’s close, the Dow was just 0.8% below that level. The S&P 500 was also within striking distance of its all-time high of 3,027.98,” adds the website. “Market focus is largely attuned to global trade developments, as the world’s two largest economies continued to prepare for talks in early October aimed at breaking their trade war impasse.”
Read the full report at CNBC.
Original Story: August 26, 2019
The US stock market jumped Monday morning after a series of positive trade talks between President Trump and other world leaders at the G-7 summit over the weekend; with China adding they now seek a “calm end” to a potential trade war with the United States.
“Stocks gained after President Trump said Monday that talks with Beijing are continuing despite last week’s escalation of the trade war,” reports Fox Business.
“Great respect for the fact that President Xi & his Representatives want ‘calm resolution.’ So impressed that they are willing to come out & state the facts so accurately. This is why he is a great leader & representing a great country. Talks are continuing!” tweeted the President.
Great respect for the fact that President Xi & his Representatives want “calm resolution.” So impressed that they are willing to come out & state the facts so accurately. This is why he is a great leader & representing a great country. Talks are continuing!https://t.co/0sotrd1Mzh
— Donald J. Trump (@realDonaldTrump) August 26, 2019
“News of the possible opening in negotiations came shortly after President Trump threatened to declare a national emergency that would result in American businesses freezing their relationships with China. Trump’s tariff barrage on Friday was a response to China imposing its own retaliatory tariffs on $75 billion in U.S. goods,” reports Fox News.
“China is willing to resolve its trade dispute with the United States through calm negotiations and resolutely opposes the escalation of the conflict,” said Chinese Vice Premier Liu He, China’s top trade negotiator.