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.
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: Market Recovers from 600 POINT PLUNGE, End UP 250+
American investors and financial analysts were in for a wild ride Thursday, with the Dow Jones plunging more than 600 points by midday but recovering by the late afternoon; ending the day up over 250 points.
“The Dow Jones Industrial Average ended the day up 258 points, or 1.1 percent. The S&P 500 closed 0.85 percent higher while the Nasdaq Composite climbed 0.4 percent. At its lows of the day, the Dow had fallen 611 points. The S&P 500 and Nasdaq fell as much as 2.8 percent and 3.3 percent, respectively,” writes CNBC.
“You went from $200 million to sell [at the close] which was less than expected. That started the early rally. Now there’s over $2 billion to buy,” said one analyst. “They thought we’re going to be huge sellers, now they’re huge buyers.”
The strong gains come just one day after the market set a historic record; soaring over 1,000 points in a single session.
Read the full report at CNBC.