Saturday, 14 December 2019

Markets rise on US-China trade deal

Markets rose on Friday.

The S&P 500 rose 0.01 percent to another record high, the STOXX Europe 600 rose 1.1 percent and the Nikkei 225 surged 2.6 percent.

The announcement of a trade deal between the US and China, including the cancellation of new tariffs originally set to be implemented on Sunday, helped boost investor sentiment.

US stocks gave up some early gains though amid concerns that the agreement was not substantial enough.

Randy Frederick, vice president of trading and derivatives at Charles Schwab, said that the deal is not as “robust” as some had hoped. “The big question is whether the economic data and earnings are sufficient, plus the promise of no new tariffs, to push the market higher.”

No comments:

Post a comment