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.
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.
— Donald J. Trump (@realDonaldTrump) June 18, 2019
“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.
….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!
— Donald J. Trump (@realDonaldTrump) May 10, 2019
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.