US Stocks Rise as Trade Anxiety Wanes

U.S. stocks rose across the board on Monday as fears about a trade war between the United States and China eased following reports that the two countries were willing to negotiate tariffs and trade imbalances.

All the 11 major S&P indexes were up, led by a 2.4 percent gain in technology .SPLRCT and financial .SPSY indexes. Gainers on the New York Stock Exchange outnumbered losers for a 9.30-to-1 ratio and for a 7.39-to-1 ratio on the Nasdaq.



The United States asked China in a letter last week to slash tariffs on U.S. autos, buy more U.S.-made semiconductors and give U.S. firms greater access to the Chinese financial sector, the Wall Street Journal reported on Monday.

Chinese Premier Li Keqiang said on Monday the country would treat foreign and domestic firms equally, not force foreign firms to transfer technology and would strengthen intellectual property rights, repeating promises that have failed to placate Washington.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza