Trump’s tweet ignites stock bulls

President Trump’s tweet minutes after the open sent markets soaring.  Leaders of the two largest economy spoke on the phone and expectations are for them to hold an extended meeting at the G-20.  Markets previously were concerned if Xi was going to attend and if anything of substance would come out of the G20 summit.  China’s state media confirmed the call between Trump and Xi.

Source: Twitter

Investors rushed to US stocks, with the S&P 500 index rising 1.1%, the Dow Jones Industrial higher by 1.3% and the tech heavy Nasdaq leading the rally with 1.8% gain.  The dollar also remains near its high of the session.

US equities may be poised to make a run at those record highs if we see continued trade optimism and a strong dovish signal from the Fed.

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Ed Moya

Ed Moya

Senior Market Analyst - The Americas at OANDA
With more than 20 years’ trading experience, Ed Moya is a market analyst with OANDA, producing up-to-the-minute fundamental analysis of geopolitical events and monetary policies around the world. Over the course of his career, he has worked with some of the world’s leading forex brokerages and research departments including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including BNN, CNBC and Bloomberg, and is often quoted in leading publications including the Wall Street Journal and the Washington Post. He holds a BA in Economics from Rutgers University.
Ed Moya