The start of the US trading session has been positive for traders of Tesla and Microsoft.
US shares rally on trade optimism
On Tuesday, American key indexes managed to jump more than 1%, in a broad-based ascend powered by a deal reached by US lawmakers to avert another partial US government shutdown as well as expectations that the US-China trade negotiations could end up in a long-awaited agreement.
However, it wasn’t clear, if US leader would accept the agreement as congressional aides told it didn’t come with the $5.7 billion he would like to have at hand for a border wall.
Even although US leader hasn't settled on an agreement, the way market participants are considering it is that it’s more positive than what they had on Monday, as some analysts explained.
On Monday, trade negotiations resumed and US Treasury Secretary Steven Mnuchin along with Trade Representative Robert Lighthizer came to Beijing on Tuesday to take part in high-level negotiations scheduled later this week.
The world's two leading economies are all geared up towards striking a deal before a March 1 deadline, exactly when extra American levies on China’s imports will come into effect.
Trade-sensitive industrials managed to rally by 1.3%, backed by Boeing, 3M, and Caterpillar.
In addition to this, chipmakers, depending on China for a big chunk of their gains, tacked on too and pushed the Philadelphia chip index 1.86% up.
The broader technology sector headed north by 1.19%, backed by profits in Microsoft, Apple, and Intel.
As for the S&P 500 index, it’s nearly 7% away from its September 20 record maximum, underpinned by optimism on trade, a generally positive fourth-quarter earnings season as well as a dovish Federal Reserve.
ET, the Dow Jones Industrial Average tacked on by 1.11% concluding the trading session at 25,332.01. As for the S&P 500, it jumped by 1.09% hitting 2,739.33, while the Nasdaq Composite gained 1.32% demonstrating 7,404.68.
During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
More tariffs were introduced
The remarks by Nigel Farage during the Brexit party's election event have sent the British pound higher…
The Reserve bank of New Zealand will release the monetary policy statement and its interest rate at 3:00 MT on November 13.
A calm trading session with the US-China trade updates in focus