· Wall Street moved higher on Wednesday, led by tariff-sensitive technology and industrial stocks after China extended an olive branch ahead of next month’s trade negotiations with the United States.
The S&P 500 closed above the 3,000 mark for the first time since July 30.
China announced tariff exemptions for a basket of U.S. goods, a move viewed by many investors as a show of good faith just weeks ahead of planned talks aimed at resolving the trade war, which has bruised world economies and rattled markets for months.
The Dow Jones Industrial Average .DJI rose 227.61 points, or 0.85%, to 27,137.04, the S&P 500 .SPX gained 21.54 points, or 0.72%, to 3,000.93 and the Nasdaq Composite .IXIC added 85.52 points, or 1.06%, to 8,169.68.
· European stocks traded higher Wednesday as investors look ahead to key central bank meetings, while China signaled a thawing of trade tensions with the U.S.
The pan-European Stoxx 600 provisionally rose 0.77% by the session end, basic resources jumping out to 1% gains while oil and gas and autos were the only sectors trading in negative territory.
· Stocks in Asia traded higher Thursday morning amid positive developments on the U.S.-China trade front. Markets also expect further easing measures by the European Central Bank when it announces its decision on interest rates later today.
The Nikkei 225 rose 0.86% in early trade, while the Topix added 0.55%. Shares of Yahoo Japan jumped more than 4.5% in early trade after reports that the company will launch a takeover bid for online clothing retailer Zozo.
In Australia, the S&P/ASX 200 gained 0.57% as majority of the sectors advanced.
Overall, the MSCI Asia ex-Japan index gained 0.23%.
U.S. President Donald Trump tweeted Wednesday that increased tariffs on 250 billion dollars worth of Chinese goods that were set to kick in on October 1 have now been delayed to October 15 “as a gesture of good will.”
Trump said the decision was made at the request of Chinese Vice Premier Liu He and in consideration of the 70th anniversary celebrations of the People’s Republic of China.
U.S. President Donald Trump tweeted: “At the request of the Vice Premier of China, Liu He, and due to the fact that the People’s Republic of China will be celebrating their 70th Anniversary on October 1st, we have agreed, as a gesture of good will, to move the increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th.
Reference: CNBC
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