US stocks gain on easing China trade war angst

NEW YORK - Wall Street stocks broke out of a two-day slumber and won solid gains on Wednesday after China reversed tariffs on some US goods which boosted hopes for a resolution to the trade war.

"Equities have the best of both worlds," said Karl Haeling of LBBW, citing expectations of central bank easing even as the economy is"okayish."The broad-based S&P 500 advanced 0.7 per cent to close at 3,000.91, while the tech-rich Nasdaq Composite Index surged 1.1 per cent to 8,169.68. Among individual companies, Boeing rocketed 3.5 percent higher after chief executive Dennis Muilenburg confirmed the company was still on track to receive approval early in the fourth quarter to resume flights on the 737 Max, which has been grounded since March after two deadly crashes.

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Studies show US companies not leaving China in droves, but China companies investing less in USWASHINGTON - Chinese companies are investing less in the United States but American firms are continuing to plough money into China, according to two research papers released on Monday (Sept 9) that show how companies in the two superpowers are responding differently to the trade war.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »