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November 2018
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Wednesday, 31 October 2018 13:00

“Great deal” could be struck with China, Donald Trump

“Great deal” could be struck with China, Donald Trump

Broad gains in the U.S. equity market boosted a measure of global stock markets on Tuesday after President Donald Trump said a “great deal” could be struck with China that would relieve fears of a growing trade war between the world’s two largest economies, Caspian Energy News (www.caspianenergy.net) reports with reference to Reuters.

Investors remained cautious despite the modest gains.

“At this point, nobody can say the equity market is bottoming out. Global investor sentiment remains shaky,” said Yasuo Sakuma, chief investment officer at Libra Investments in Tokyo.

Trump said during an interview with Fox News late on Monday that he thought there could be an agreement with China on trade. But he also said he had billions of dollars worth of new tariffs ready to be imposed if a deal was not possible.

The Dow Jones Industrial Average .DJI rose 431.72 points, or 1.77 percent, to 24,874.64, the S&P 500 .SPX gained 41.38 points, or 1.57 percent, to 2,682.63 and the Nasdaq Composite .IXIC added 111.36 points, or 1.58 percent, to 7,161.65.

The pan-European STOXX 600 index rose 0.01 percent.

The chill around China and global trade left emerging- market stocks at an 18-month low, with MSCI’s index .MSCIEF down for a sixth day in a row.

The euro wallowed near a 10-week low of $1.1352 as the dollar .DXY climbed to a 2 1/2-month peak against a basket of the world’s top six currencies.

Oil prices fell more than 1 percent in choppy trading on signs of rising supply and concern that global economic growth and demand for fuel would be hit by a deepening of the U.S.-China trade dispute.

More details: https://www.reuters.com/article/us-global-markets/u-s-leads-equities-higher-on-hopes-of-u-s-china-trade-deal-idUSKCN1N404Y

Person in charge of the newsline: Olga Nagiyeva 

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