Wall Street gains as trade talks advance, but yet to respond to Trump emergency
US-China trade talks are to continue next week with Trump’s national emergency something ‘brand new’ for the market
Bengaluru — US stocks posted broad-based gains on Friday, led by a rebound in financials, as investors were optimistic about the ongoing trade talks to resolve a bruising tariff dispute between the US and China. US President Donald Trump said talks with China “are going extremely well”, and the US is closer than ever to having a “real” trade deal with Beijing. Discussions between the world’s largest economies will continue next week in Washington. “Its just up-up we go, investors today seem to be picking up on every piece of news as the glass being half full with apparent progress on the US-China trade talks,” said Michael Geraghty, equity strategist at Cornerstone Capital Group in New York. Hopes of a trade deal ahead of a March 1 deadline has helped the trade-sensitive industrial sector gain nearly 17% so far this year, making it the best performing S&P sector, which rose 0.95% boosted by bellwethers Boeing and Caterpillar. Another concern is Trump declaring a national emergency i...
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