Wall St. extends Friday’s rally on trade talk hope


by   |  VIEW 200
Wall St. extends Friday’s rally on trade talk hope

On Monday, the 7th of January, the Wall St. extended its Friday’s gain, while officials from US and China has been in talk over the trade conflict. Despite a prolonged government shutdown, the US-China trade talk has been breezing the Wall St.

through, after a strong surge on Friday, Jan. 4th. Followed by strong US job data and dovish Fed comments, the thriving for a clear directive came to an end on Friday, Jan 4th, as all three major indexes of Wall St. had posted over 3 percent of gains.

Adding further fanning in to the flame, the US-China trade talk headlines had been overhauling the whiplashed Wall St. on Monday, as the tech heavy Nasdaq Composite posted a gain of 0.88 percent and the Standard & Poor 500 gained over 0.60 percent, while the Dow Jones Industrials surged 0.30 percent, during the preparation of the report, Jan.

7th, GMT. 21.00. Monday’s gain had mostly been led by a 1.04 percent jump in the consumer discretionary stocks, driven by the Netflix Inc, alongside Amazon.com Inc. Despite a soothing gain and a comforting atmosphere around the market, several analysts seemed to be unconvinced, as a chief economist at Raymond James in St.

Petersburg, Florida, Scott Brown said, “We’ve been through this (trade talks) so many times that you’d wonder when the market would get desensitized to it”.