USA markets soar as trade war fears subside

USA markets soar as trade war fears subside

The Dow Jones Industrial Average rose more than 650 points Monday as trade tensions between the United States and China eased.

The bulls would not go down without a fight and the market began to recover around midday.

The Dow Jones industrial average plummeted in the final hours of a bouncy day Friday and closed down 424 points, 1.77 percent.

More news: Matthew Renshaw to join under siege Test squad

The tech-heavy Nasdaq slid 211.74 points, or 2.9 percent, to 7,008.81.

The S&P index rose 2.7 percent with financial and technology leading all sectors, and the Nasdaq composite increased 3.3 percent with Amazon and Apple both experiencing increases, CNBC reported. On Friday, Beijing released a $3 billion list of US goods targeted for possible retaliation over an earlier USA tariff hike on steel and aluminum imports.

"It looks like we might get a really good deal on NAFTA", Navarro said. Bank of America added $1.27, or 4.4 percent, to $30.44. The Nasdaq climbed 195 points, or 2.8 per cent, to 7,188. Investors were cheered by signs that the United States and China are talking behind the scenes to avoid a clash between the world's two biggest economies. The U.S. government is set to announce what Chinese products will be subject to the $60 billion or so of new tariffs sometime real soon, according to White House spokeswoman Sarah Huckabee Sanders. Higher yields are good for banks, because they drive up interest rates on mortgages and other loans, making them more profitable for lenders.

More news: Police arrest second person linked to French attack

Facebook fell another 2.2 per cent after the Federal Trade Commission said it was investigating the company's privacy practices.

Benchmark U.S. crude declined 30 cents to settle at $65.25 a barrel on the New York Mercantile Exchange. The stock eked out a gain of 67 cents, or 0.4 percent, to $160.06. Wholesale gasoline was little changed at $2.01 a gallon. Wholesale gasoline lost 2 cents to $2.01 a gallon.

Gold futures for April delivery gave back $13, or 1%, to close at $1,342 an ounce, snapping a four-day winning streak and pulling back from multi-week highs. Copper slipped 2 cents to $2.97 a pound. The euro fell to $1.2402 from $1.2455. Germany's DAX rose 1.6 percent, while France's CAC 40 gained 1 percent. Britain's FTSE 100 shed 0.5 percent. South Korea's Kospi rose 0.6 percent. Sydney's S&P-ASX 200 fell 0.5 percent. India's Sensex rose 0.3 percent.

More news: West Indies book place in World Cup

Related Articles