page contents
USA Real Estate Blog

Trump’s ‘big progress’ with China tweet has stocks rallying on the last day of a dismal year

0 16

Stocks around the world climbed at the end of a dismal year, with solid gains in U.S. equity futures after President Donald Trump reported “big progress” in trade talks with his Chinese counterpart. Treasuries were steady and oil rallied.

Miners and retailers led a second day of gains in the Stoxx Europe 600 Index, which was still on course for a decline of about 13 per cent this year — the biggest loss since 2008. Contracts on the Dow, Nasdaq and S&P 500 all rallied and shares in China climbed as Trump said in a tweet that negotiations toward a comprehensive trade deal were “moving along very well.” The dollar edged lower and copper advanced. The euro held steady against the greenback after Italy’s populist government won final parliamentary approval for its 2019 budget.

Even if Monday’s gains hold, major indexes remain down for 2018. Global stocks are set for their worst year since the financial crisis while oil is mired in its steepest quarterly slump since 2014. Plenty of event risks loom in the next 12 months, from the U.K.’s exit from the European Union to U.S.-China trade talks and the continuing showdown between President Trump and Congress over the budget. The American political landscape is also unsettling investors following departures of senior officials and Trump’s repeated criticism of Federal Reserve Chairman Jerome Powell.

Elsewhere, emerging-market shares climbed and their currencies were steady even as factory data from China contracted.

These are the main moves in markets:


Futures on the S&P 500 Index increased 0.8 per cent as of 5:57 a.m. New York time, the highest in almost two weeks. The Stoxx Europe 600 Index rose 0.4 per cent to the highest in more than a week. The MSCI All-Country World Index gained 0.2 per cent to the highest in more than a week. The MSCI Emerging Market Index climbed 0.5 per cent to the highest in more than a week.


The Bloomberg Dollar Spot Index dipped 0.1 per cent to the lowest in almost 10 weeks. The euro gained less than 0.05 per cent to $1.1448, the strongest in six weeks. The Japanese yen increased 0.2 per cent to 110.06 per dollar, the strongest in about six months.The British pound jumped 0.3 per cent to $1.2742, the strongest in more than three weeks. The MSCI Emerging Markets Currency Index rose 0.1 per cent to the highest in almost four weeks.


The yield on 10-year Treasuries climbed one basis point to 2.73 per cent. Britain’s 10-year yield gained one basis point to 1.28 per cent.


The Bloomberg Commodity Index decreased 0.3 per cent to the lowest in a week. West Texas Intermediate crude increased 0.9 per cent to US$45.75 a barrel. LME copper gained less than 0.05 per cent to $5,998.50 per metric ton, the highest in more than a week.Gold rose 0.2 per cent to US$1,282.66 an ounce, the highest in almost seven months.

قالب وردپرس

You might also like

Leave A Reply

Your email address will not be published.

Pin It on Pinterest

Share This

Share this post with your friends!