U.S. stock markets rose on hopes of a trade deal between the U.S. and China after President Donald Trump said that negotiations between the world's two largest economies were going"really well."reported"We just completed a negotiation with China, we're doing very well, we're having another one tomorrow. I'm meeting with the vice premier over at the White House, and I think it's going really well," Trump said on Thursday.
The Dow Jones climbed 350 points or 1.3 percent on Friday morning following the news, while the S&P 500 rose 1.3 percent and the Nasdaq rose 1.4 percent. Gold prices dropped and Treasury yields climbed, indicating investor confidence and hopes that progress would be made toward solving the long-running conflict that has infused uncertainty into the global economy, shaken U.S. consumer confidence and sapped global growth estimates.
The positive outlook was a notable shift from the start of the trade talks. Tensions between the U.S. and China escalated ahead of the discussions, with the U.S. adding 28 entities to a blacklist.
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Source: CNBC - 🏆 12. / 72 Read more »