Wall St. advances on renewed trade deal optimism


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Wall St. advances on renewed trade deal optimism

On Wednesday, the 9th of October 2019, all three key indexes of Wall Street had posted robust gains, while tech stocks were leading the charges shrugging off a three-day long losing streak followed by reveal of a media report that Beijing was open to a partial trade deal, which in effect had calmed investors’ worries over further deterioration of a 15-month long Sino-US trade war entering into its sixteenth month.

In point of fact, Wall St. opened higher on Wednesday (October 9th) followed by reveal of a Bloomberg report saying that Beijing remained open to a partial trade deal with the US despite Trump Administration’s latest blacklisting of more than 50 Chinese firms, state governments alongside Chinese AI start-ups.

Meanwhile, citing a cautiously optimistic look over a partial Sino-US trade deal as early as by later this week, a chief investment strategist at Inverness Counsel in New York, Tim Ghriskey said on Wednesday’s (October 9th) Wall St.

wind down, “A partial deal with China would at least pave the way for a larger deal down the road. Every day we get a different tweet and the market takes a different direction. Today is an up day on a favourable tweet.

” Quoting statistics, on Wednesday’s (October 9th) market wrap-up, Dow added 0.79 per cent to 26,369.73 and benchmark S&P 500 surged 1.01 per cent, while tech-heavy Nasdaq climbed 1.13 per cent to round off Wednesday’s (October 9th) Wall Street at 7,912.34.