Apple joins the $US1 trillion club again as shares jump

The blue-chip Dow, led by Boeing, posted its sixth consecutive daily gain. Boeing, the largest US exporter by dollar value, gained 3.6 per cent.

Loading

China announced tariff exemptions for a basket of US goods, a move viewed by many investors as a show of good faith just weeks ahead of planned talks aimed at resolving the trade war, which has bruised world economies and rattled markets for months.

However, a senior White House adviser urged investors to be patient in an effort to curb expectations for the trade talks scheduled to take place next month in Washington.

“The general market still believes that a real deal is possible and all of these moves by the White House and China are simply negotiating tactics,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “(But) that belief swings on a daily basis based on tweets and statements from China.

“Right now we’re swinging a bit toward the chance of a deal being made in a reasonable time frame,” Ghriskey added.

In a series of morning tweets, President Donald Trump called on the US Federal Reserve to slash interest rates into negative territory, a move typically seen as a last-ditch effort to revive sluggish economies.

Loading

Replay

Replay video

Play video

Play video

“The experiment of negative interest rates has certainly proved to be flawed in both the ECB and Japan and I certainly think it’s something the United States should probably try to avoid at all costs,” said Art Hogan, chief market strategist at National Securities in New York.

Markets still expect the Fed to cut interest rates by 25 basis points at the conclusion of its monetary policy meeting next

Read More Here...

Bookmark the permalink.