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 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 geo-political events and monetary policies in the US, Europe, the Middle East and North Africa. 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 TradeTheNews.com, 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, Fox Business, and Bloomberg. He is often quoted in leading print and online publications such as the Wall Street Journal and the Washington Post. He holds a BA in Economics from Rutgers University. Follow Ed on Twitter @edjmoya ‏
Ed Moya