Global Markets: US stocks close higher amid trade optimism, data
US stocks closed higher on Monday as investors` sentiment was lifted after China and the US agreed on the text of a phase-one economic and trade agreement.
US stocks closed higher on Monday as investors` sentiment was lifted after China and the US agreed on the text of a phase-one economic and trade agreement. The Dow Jones Industrial Average was up 100.51 points, or 0.36 per cent, to 28,235.89. The S&P 500 increased 22.65 points, or 0.71 per cent, to 3,191.45. The Nasdaq Composite Index rose 79.35 points, or 0.91 per cent, to 8,814.23, the Xinhua news agency reported.
China and the US have agreed on the text of a phase-one economic and trade agreement based on the principle of equality and mutual respect and reached a consensus that the US side will fulfill its commitments to phase out its additional tariffs on Chinese products, according to a statement by the Chinese side Friday.
See Zee Business Live TV streaming below:
US experts and business people hailed the agreement as a move to de-escalate trade tensions, benefit their respective and global economies, and lay a favourable groundwork for future negotiations.
On data front, private sector firms across the US registered a slightly stronger expansion in business activity at the end of 2019, according to IHS Markit on Monday.
Adjusted for seasonal factors, the IHS Markit Flash US Composite PMI (Purchasing Managers Index) Output Index posted 52.2 in December, up from 52.0 in November, to indicate the quickest rise in output since July.
Nonetheless, the rate of growth was below the series trend and only moderate overall, said IHS Markit in a report.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
08:38 AM IST