Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets end significantly higher on optimism about US-China trade talks

30-Mar2019

US markets end significantly higher on optimism about US-China trade talks

The US markets extended their gains for second straight session and ended the session significantly higher with gains of over half a percent each on Friday, amid optimism about the ongoing trade talks between the US and China. As per the report, the US Treasury Secretary Steven Mnuchin described the latest round of high-level US trade talks as constructive. Mnuchin also said he looks forward to welcoming China's Vice Premier Liu He to continue the important discussions in Washington next week. The world's two largest economies have imposed tariffs on billions of dollars' worth of one another's goods over the past year, battering financial markets and souring business and consumer sentiment.

On the economic front, a report released by the Commerce Department showed that personal income in the US increased by slightly less than anticipated in the month of February. The report said personal income rose by 0.2% in February after edging down by 0.1% in January. Street had expected personal income to climb by 0.3%. Reflecting the continued impact of the recent government shutdown, the Commerce Department also released data on personal spending in January but not February. Personal spending inched up by 0.1% in January after falling by 0.6% in December, while investors had expected spending to increase by 0.3%.

Meanwhile, a separate Commerce Department report showed a much bigger than expected increase in US new home sales in the month of February. The Commerce Department said new home sales surged up by 4.9% to an annual rate of 667,000 in February from the revised January rate of 636,000. Street had expected new home sales to increase by about 1.3%. With the increase in February, new home sales are at their high level since hitting a rate of 672,000 last March and up 0.6% compared to the same month a year ago.

Dow Jones Industrial Average jumped 211.22 points or 0.82 percent to 25928.68, Nasdaq gained 60.15  points or 0.78 percent to 7729.32 and S&P 500 was up by 18.96 points or 0.67 percent to 2834.40.


Related News

View all news

US markets end higher after Trump says China trade talks to continue

The US markets ended higher on Friday after key negotiators cast a positive glow on trade talks. US Secretary of Treasury Steven Mnuchin indicated that bilateral talks were constructive even though an......

US markets lower after US President claims China broke the deal

The US markets ended lower on Thursday as trade tensions ramped up after US President Donald Trump threatened tariff retaliation on China, which he claims broke the deal. Anxiety over the prospect of a......

US markets end mostly lower on Wednesday

The US markets ended mostly lower on Wednesday as worries over US-China trade talks lingered. A notice in the Federal Register formally laid the groundwork to raise tariffs on $200 billion of Chinese imports......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......