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Trump says trade deal with China is "very close" and exchanges applaud

by ace
Trump says trade deal with China is "very close" and exchanges applaud

Dow Jones finished 0.39% at 27,875.62 points after setting a record high of 28,090.21 points on Tuesday.

Already the S&P 500 advanced 0.22% to 3,110.29 points. This after setting on the 19th, in intraday trading, a value never before seen at 3,127.64 points.

Also the technological Nasdaq Composite gained ground, valuing 0.16% to 8,519.89 points. During the session on Tuesday, November 19, he set a new record at 8,589.76 points.

Exchanges on the other side of the Atlantic continue to evolve greatly as information advances on the US-China trade front.

Chinese President Xi Jinping assured Friday that Beijing wants to reach an initial agreement with the United States to resolve the dispute that has lasted several months, and that it has avoided a trade war with Washington.

However, the head of state stressed that, while not wanting a war with the world's largest economy, China will retaliate "when necessary." Any understanding, he pointed out, must be built on "equality and mutual respect."

In turn, the US president also spoke today and showed openness to an understanding. Donald Trump told Fox News that a trade deal with China is "potentially very close." It was enough to bring a renewed spirit to investors.

Automobile prices, especially sensitive to trade issues, led the climbs on Wall Street.

Yesterday, China had underlined that it was "cautiously optimistic" about a partial trade agreement (called "phase one").

According to sources close to the talks, quoted by Bloomberg today, Chinese Deputy Prime Minister Liu He invited US trade representative Robert Lighthizer to travel to Beijing later this month for further talks.

According to the South China Morning Post, it is likely that the US will decide to postpone the application of the new customs tariffs scheduled to take effect in December.

However, market players have been cautiously assessing all these statements, given the speculation that Trump could enact Congress's bill of support for Hong Kong's autonomy of Beijing.

China, it is recalled, has threatened to retaliate if Trump converts this US stance towards Hong Kong.

. (tagsToTranslate) Wall Street (t) Standard & Poor

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