Logo
Friday, 29 March 2024
Wednesday, 04 Dec 2019 08:00 pm

Wall Street Set for Higher Open as Report Rekindles Hopes of Trade Deal

Washington and Beijing are getting close to agreeing on the amount of tariffs to be rolled back, Bloomberg reported on Wednesday, a day after comments from President Donald Trump and Commerce Secretary Wilbur Ross dampened hopes of a possible near-term agreement.

newsImage
 

Wall Street’s main indexes were on course to snap a three-day losing streak on Wednesday, following a report that the United States and China were moving closer to signing a ‘phase-one’ trade deal.

Washington and Beijing are getting close to agreeing on the amount of tariffs to be rolled back, Bloomberg reported on Wednesday, a day after comments from President Donald Trump and Commerce Secretary Wilbur Ross dampened hopes of a possible near-term agreement.

The comments had pushed all the three major stock indexes further away from last week's record highs that were fueled by optimism that an interim deal between the two countries was in the works. The S&P 500 index .SPX is now about 2% away from its record high.

“China and United States are playing a game of poker,” said Mark Grant, chief global strategist at B. Riley FBR Inc.

“They make these comments on hopes of moving the other side and it’s difficult to figure out what the reality is, but these certainly move the market if they look more promising or less promising everyday.”

Read here


Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy