Trade optimism, Fed rate-cut expectation sends S&P 500 to record high
- 4 years ago
미중 1단계 무역합의, 조만간 최종 마무리되나...S&P 사상 최고치
Are the world's two largest economies finally closing in on a trade deal?
With hopes rising that the trade war could be ending soon,... U.S. stocks hit a record high on Monday, local time... while stocks in Asia rose as well.
Our Hong Yoo starts us off.
The S&P 500 hit a record high on Monday local time on increased optimism over a U.S.-China trade deal and anticipation of a rate cut by the Federal Reserve later this week.
The benchmark S&P rose 0-point-56 percent to close up at 3,039-point-42, breaking the record high of 3,035-point-86 hit on July 26.
One of the most notable blue-chip indices, the Dow Jones Industrial Average closed less than 1 percent away from topping its record closing level with 27,090-point-21.
And the Nasdaq Composite technology index rose 1-point-01 percent to 8,325-point-99.
This comes after U.S. President Trump told reporters on Monday that a significant part of the trade deal with China could be signed ahead of schedule.
Trump called this the "Phase One" agreement,… stressing it is a very big portion of the China deal.
Washington and Beijing held working-level trade talks in Washington earlier this month,... following which President Trump said a practical agreement had been reached.
Trump said the practical agreement would "take care of the farmers" and "also take care of a lot of the banking needs."
The leaders of the world's two largest economies are working to sign a trade deal on the sidelines of the APEC summit to be held in Chile next month.
The U.S. Trade Representative announced on Monday that it is considering extending tariff suspensions on 34 billion U.S. dollars of Chinese exports set to expire on December 28th.
The agency will take comments on that proposition during November before making its final decision.
Hong Yoo, Arirang News.
Are the world's two largest economies finally closing in on a trade deal?
With hopes rising that the trade war could be ending soon,... U.S. stocks hit a record high on Monday, local time... while stocks in Asia rose as well.
Our Hong Yoo starts us off.
The S&P 500 hit a record high on Monday local time on increased optimism over a U.S.-China trade deal and anticipation of a rate cut by the Federal Reserve later this week.
The benchmark S&P rose 0-point-56 percent to close up at 3,039-point-42, breaking the record high of 3,035-point-86 hit on July 26.
One of the most notable blue-chip indices, the Dow Jones Industrial Average closed less than 1 percent away from topping its record closing level with 27,090-point-21.
And the Nasdaq Composite technology index rose 1-point-01 percent to 8,325-point-99.
This comes after U.S. President Trump told reporters on Monday that a significant part of the trade deal with China could be signed ahead of schedule.
Trump called this the "Phase One" agreement,… stressing it is a very big portion of the China deal.
Washington and Beijing held working-level trade talks in Washington earlier this month,... following which President Trump said a practical agreement had been reached.
Trump said the practical agreement would "take care of the farmers" and "also take care of a lot of the banking needs."
The leaders of the world's two largest economies are working to sign a trade deal on the sidelines of the APEC summit to be held in Chile next month.
The U.S. Trade Representative announced on Monday that it is considering extending tariff suspensions on 34 billion U.S. dollars of Chinese exports set to expire on December 28th.
The agency will take comments on that proposition during November before making its final decision.
Hong Yoo, Arirang News.