Monday, 25 February 2019

US to delay new tariffs on China

The S&P 500 rose 0.6 percent last week for its fourth consecutive weekly gain.

The Dow Jones Industrial Average also rose 0.6 percent last week for its ninth consecutive weekly gain, its longest such run since May 1995.

The Nasdaq Composite rose 0.7 percent, also a ninth consecutive weekly gain.

Stocks could gain further at the start of this week on prospects of a resolution to the US-China trade war.

In a series of posts on Twitter on Sunday, US President Donald Trump cited "substantial progress" in bilateral talks between the US and China as a reason to delay new tariffs on Chinese goods that were scheduled to begin on 1 March.

Trump also confirmed that he was planning a meeting with Chinese President Xi Jinping.

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