US Stocks Rise After China Announces Tariff Cuts

Wall Street opened higher on Tuesday, led by technology stocks, after Chinese President Xi Jinping promised to cut import tariffs, soothing investor concerns about rising U.S.-China trade tensions.

The Dow Jones Industrial Average .DJI rose 397.78 points, or 1.66 percent, to 24,376.88, the S&P 500 .SPX gained 36.04 points, or 1.38 percent, to 2,649.2 and the Nasdaq Composite .IXIC added 110.70 points, or 1.59 percent, to 7,061.05.

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