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.