Economy

STOCKS SURGE: Markets Roar After President Trump Says He’ll Meet with China’s Xi at G-20

posted by Hannity Staff - 6.18.19

The Dow Jones spiked by more than 350 points Tuesday after President Trump confirmed he will be meeting with Chinese leader Xi Jinping at the G-20 summit; sending stocks to a near record high.

“The Dow Jones Industrial Average jumped 353 points as Apple and Boeing outperformed. The S&P 500 climbed 1.1% while the Nasdaq Composite advanced 1.6%. The S&P 500 also traded about 1% from its all-time intraday high of 2,954.13, which was reached May 1,” reports CNBC.

“Had a very good telephone conversation with President Xi of China. We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting,” confirmed the President on social media.

“Certainly, there’s ground for optimism,” said one industry insider. “However, we have to remember there have been a lot of negotiations between China and the U.S. where they seem to be close to a deal and then things fell apart.”

A potential trade deal with China fell-apart at the last-minute months ago; sparking a series of tariffs between the two global trading partners.

“Over the course of the past two days, the United States and China have held candid and constructive conversations on the status of the trade relationship between both countries. The relationship between President Xi and myself remains a very strong one, and conversations into the future will continue. In the meantime, the United States has imposed Tariffs on China, which may or may not be removed depending on what happens with respect to future negotiations!” tweeted the President in May.