Stocks end higher after Trump sounds optimistic tone on trade

Tuesday, 27 August 2019 03:16 WIB

DOW JONES Standard & Poor's 500Saham AS


Stocks ended higher Monday, marking a partial bounce from Friday's steep selloff, after President Donald Trump said China wants to return to the negotiating table and that he was optimistic about prospects for a deal to end an escalating trade war.

The Dow Jones Industrial Average rose around 270 points, or 1.1%, to end near 25,899, according to preliminary figures, while the S&P 500 gained around 31 points, or 1.1%, to close near 2,878. The Nasdaq Composite finished around 102 points higher at 7,854, up 1.3%.

Stocks tumbled sharply on Friday after China imposed retaliatory tariffs on $75 billion of imports from the U.S., prompting an angry response from Trump, who followed up after the market closed with additional tariff increases on Chinese products.

Source: Marketwatch


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