US stocks rose on Monday after a truce between the United States and China, calming previous fears that a trade war between the two countries might be approaching. An increase in sentiment from the US $ 28 billion merger has helped support US equity markets. US Treasury Secretary Stephen Menochin said on Sunday that the United States and China had agreed to drop their customs threats on goods worth billions of dollars, while on Monday China praised a strong dialing back of the tensions.<\/p>\n
The news seemed good to stock market investors, increasingly concerned that an open trade war between the world’s two biggest economies would hurt the global economy and put an end to Wall Street’s wave. Analysts believe that the suspension of the trade war is positive for the return of traders to markets. There are many sectors benefiting from this, including Technology, Industry, Energy. Nine of the 11 major S & P sectors were led by the technology sector, with Apple, China’s biggest growth market, up 1.4%, giving the biggest boost to the Standard & Poor’s 500 and Nasdaq.<\/p>\n
The industrial sector rose 1.20%, led by Boeing’s big jump of 2.4%, which sells about a quarter of its commercial aircraft to Chinese customers. Caterpillar shares rose 2.3%. The Dow Jones industrial average rose 1.12% to 24.992 points, the Standard & Poor’s index rose 0.74% to 2.733 points and the Nasdaq Composite Index rose 0.91% to 7.241 points.<\/p>\n
The biggest gainers were Dow Jones, GE, which rose 2.1 percent after the company said it would merge the transport business with the Wabtec rail equipment maker in a deal worth more than $11 billion. Wabtec jumped nearly 5% to its highest level in three years after the announcement.<\/p>\n
Going back to the trade war, the US’s delay in implementing import tariffs on China hit steel stocks, with AK Steel and US shares falling. Chipmakers, whose main customers are Chinese companies, also made big gains, supported by Micron, which raised its forecast for the current quarter. Micron climbed 4.4% while Intel rose 2.3%.<\/p>\n
The stock price of MB Financial jumped 13.9 percent after Bancorp announced it would buy the smaller competitor in a $4.7 billion deal.<\/p>\n","protected":false},"excerpt":{"rendered":"
US stocks rose on Monday after a truce between the United States and China, calming previous fears that a trade war between the two countries might be approaching. An increase in sentiment from the US […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,4],"tags":[66,48,38,33,21,37,14,22,10,70,47,23,46,39],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/603"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=603"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/603\/revisions"}],"predecessor-version":[{"id":605,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/603\/revisions\/605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/604"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}