Global stocks revive over Kudlow’s upbeat comment on Sino-US trade deal

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Global stocks revive over Kudlow’s upbeat comment on Sino-US trade deal

On Friday, the 15th of November 2019, a basket of global stock exchanges posted robust gains, while safe-haven assets such as gold alongside government bonds were bushed after White House Adviser, Larry Kudlow had told that a Sino-US trade deal might be reached in a near-term outlook, which in effect had de-escalated tensions over the financial markets and investors appeared to have regained appetite for riskier assets.

Following White House Trade Adviser Larry Kudlow’s upbeat remarks on an interim trade deal between the United States and China alongside a plausible ceasefire of a sixteen-month-long protracted and costlier trade war that had been whacking trillions out of global financial markets, all three key indexes of Wall St.

had opened up Friday’s (November 15th) market in a much-riant tone and scored fresh record highs, while a slew of global equity markets ranging from Tokyo to Europe to Latin America, gained on rosy remarks of White House’s Kudlow.

Aside from Kudlow’s remarks on Thursday (November 14th), US Commerce Secretary Wilbur Ross was also quoted saying earlier on Friday (November 15th) that the trade talks were continuing through phone calls, as both sides were seeking to hammer out a deal ahead of a critical holiday sales, while United States were set to incline a 25 per cent additional tariff on $160 billion worth of Chinese exports after December 15th deadline, if an interim trade deal could not be reached until then.

Quoting statistics, during preparation of the report, November 16th, GMT. 16.00, MSCI’s gauge of global stocks across the world that keeps track of 49 stock exchanges gained 0.51 per cent, while its emerging market index posted an upsurge of 0.66 per cent.

In the Europe, the regional Pan-European STOXX 600 index added 0.26 per cent, while in the Wall St., all three key indexes hit another record peak as beforementioned.