Trade fear wiped out, Wall St. back in rally mode


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Trade fear wiped out, Wall St. back in rally mode

On Thursday, the 5th of September 2019, all three key indexes of Wall Street gained more than 1 per cent over renewed optimism of a de-escalation in Sino-US trade tension after US and China had agreed to hold a high-level talks as early as next month and expressed optimism to reach a trade deal by then, meanwhile a flurry of strong US economic data had headed off some concerns related to domestic slowdown.

In point of fact, Wall St. opened up Thursday’s (Sept. 5th) market in an upbeat note after Chinese commerce ministry had first announced the news of a face-to-face trade talk on October, meanwhile an improved political landscape in Europe had added to investors’ optimism in the Wall Street.

Aside from that, signals of improvement alongside deterioration of the Sino-US trade war, often determined by the comments or tweets of US President Donald Trump, had repeatedly stoked volatility in the Wall St. and Thursday’s (Sept.

5th) market had not been any exception. Meanwhile, referring to money market’s immediate reaction to Sino-US trade friction, a chief investment strategist at Inverness Counsel in New York, Tim Ghriskey said, “Whether the talks occur or not, we’ll see.

And whether they are productive, we’re sceptical. But the market loves it. ” Quoting statistics, on Thursday’s (Sept. 5th) market closure, Dow jumped 1.41 per cent to settle down at 26,728.15, S&P 500 climbed 1.30 per cent to wrap up the day at 2,975.97, while the Nasdaq Composite mounted 1.75 per cent to wind down Thursday’s (Sept. 5th) market at 8,116.83.