U.S. stocks rallied at the start of trade Thursday after American and Chinese officials declared a tentative resumption of tariff talks, viewed by Wall Street as a sign of progress in the yearlong trade conflict between the economic superpowers.
The communication between China and the U.S. comes after tariffs were raised by both sides over the weekend and another increase is set to take place in the coming weeks. The tariff dispute between the world’s two largest economies has proved to be a crucial driver for market sentiment because the trade battle has put pressure on the global economies and threatened to throw the U.S. into a recession.
U.S. stocks finished solidly higher Wednesday, with the S&P 500 and the Nasdaq indexes more than wiping out losses from a day ago, as a survey on business conditions in the Federal Reserve’s key districts showed that economic activity in nonfinancial service sectors was steady or improving even while trade-stricken manufacturing and agriculture were weak.
A final estimate of second-quarter productivity growth confirmed a 2.3% rise, after a 3.1% gain in the first quarter. Unit labor costs, however, were revised from a 2.4% gain to a 2.6% gain.
END THE FED!!! no more crashes due to them!! imo printing money out of thin air and creating a debtor nation!! imo
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