Dow surges, global markets rally on investor optimism following U.S.-China trade truce

[Eugene]

Source: Washington Post

Dow surges, global markets rally on investor optimism following U.S.-China trade truce

By Thomas Heath December 3 at 9:36 AM

Global markets were lifted Monday on investor confidence over the announced 90-day trade truce between the United States and China.

The Dow Jones industrial average opened with a big boost, surging 425 points, or 1.6 percent, on the news that President Trump and his Chinese counterpart, Xi Jinping, will let the trade war cool for a few months as they try to negotiate an agreement.

The tech-heavy Nasdaq composite rose 1.9 percent, and the Standard & Poor’s 500-stock index was up 1.4 percent. The Nasdaq is out of correction, and U.S. stocks are up in four of the past five days.

Boeing, Nike and Caterpillar were leading the Dow in early trades. Wynn Resorts, Nvidia and Amazon.com were among the top Nasdaq performers

“The market basically received a stay of execution with a 90-day cease fire,” said Sam Stovall, investment strategist at CFRA. “There is still an opportunity to salvage global economic growth.”

-snip-

Read more: https://www.washingtonpost.com/business/economy/dow-surges-global-markets-rally-on-investor-optimism-following-us-china-trade-truce/2018/12/03/3faa1d88-f702-11e8-8d64-4e79db33382f_story.html

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Of course, Trump the arsonist will claim credit for containing this fire.

[rzemanfl]

1. This is like being happy the car air-conditioning works-

while ignoring the drunk driver behind the wheel.

[safeinOhio]

2. Going to have to pick one.

Investors or voters.

[lunasun]

8. Not necessary perhaps

[still_one]

3. Trump caused the crisis in the first place, and the tarriffs were a complete failure, but this will

fly under the radar

[spanone]

5. Exactly, cause a crisis....then claim you've solved it.....total horseshit

[Roland99]

4. Well. DJIA is 100pts off the opening high

[duforsure]

6. It will be reversed when the reality again is different from

What trump claims and it all falls apart on him. Like its been with Kim on NK.

[GeorgeGist]

7. Good God the stupid runs deep...

on Wall Street.