On Friday, 30th November, the wall street rose, as the S&P 500 and Nasdaq posted their biggest weekly percentage gain in nearly seven years, after US FED chair Jerome Powell made a dovish comment regarding the interest hike on Wednesday.
In the wake of a stormy G20 summit, where US president Donald Trump and the Chinese President Xi XingPing would be meeting to discuss the trade deals regarding their ongoing trade war which is hampering global economic growth severely, Wall street remained highly cautious.
Despite the tempestuous outlook of the G20 summit, investors remained wishful that a trade agreement might be on the card. Unfortunately, that is quite unlikely to happen, as the recent APEC summit ended up in a catastrophe without reaching any solution, where US vice president simple threatened the China to bend their knees.
In this light of these events, a trade deal which could end up the trade war appears to be highly unlikely. On Friday, the Dow Jones Industrial Average rose by 0.79% and S&P 500 gained 0.81%, while the Nasdaq composite added 0.79%.
Although today’s wall street ended up in the greens, however, everything the stocks have accumulated in the last couple of days, are hanging in a tangible balance and potential buyers are cautiously eyeing the US-China meeting in the sidelines of G20 summit, Buenos Aires, Argentina.