Refresh your driving skills with the AARP Smart Driver online course! Use promo code THANKS to save 25 percent.

Reply
Valued Social Butterfly
0
Kudos
204
Views

Re: Stock market jumps on US-EU trade optimism

204 Views
Message 71 of 72

@jimc91 wrote:

Trump, EU agree to work on lowering tariffs, averting a potential trade war

  • President Donald Trump on Wednesday announced that he had secured concessions from Europe, averting a potential trade war.
  • The Dow Jones Industrial Average popped Wednesday afternoon, rising more than half a percent on the news.
  • The Europeans agreed to lower industrial tariffs and import more U.S. soybeans.

U.S. stocks rallied Wednesday, erasing earlier losses, after President Trump and European officials met in Washington for trade talks.

 

The Dow Jones Industrial Average jumped 172.16 points, or 0.68%, to 25,414.10. The S&P 500 gained 25.67 points to close at 2,846.07. The Nasdaq Composite was up 91.47 points at 7,932.24.

 

Trump welcomed Jean-Claude Juncker and Cecilia Malmstrom at the White House on Wednesday afternoon to discuss tariffs between the U.S. and European Union. In an unexpected announcement after the meeting, Trump announced that the U.S. and EU agreed to work toward zero tariffs and zero subsidies on non-auto industrial goods and avoid any new tariffs while talks are ongoing. Trump had threatened to slap tariffs on European car imports.

 

The EU also agreed to buy more U.S. soybeans, while the U.S. will work toward resolving tariffs recently imposed on European steel and aluminum.

 

“The catalyst to unleashing a higher multiple could be the removal of the trade war fears, but today is just the first step,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

 

“Going forward, negotiations with Mexico and Canada will be very important, and the 800 pound gorilla in the room is China, which also serves as the Trump administration’s most difficult challenge.”

 

Earlier Wednesday, Trump said he “hopes to work out a fair and reciprocal trade deal between the U.S. and Europe." Junker told reporters as he sat down with Trump that Europe and the United States were allies and “needed to work together.”

 

Also ahead of the meeting, Larry Kudlow, a top economic adviser to President Trump, was upbeat that both sides could come to a decision that avoids a trade war.

 

“They have a positive attitude going into this. Our team has a positive attitude,” Kudlow said on Fox News’ “Fox & Friends” Wednesday morning. He also called the meeting “absolutely crucial.”

 

Trump has threated up to a 25% tariff on European cars and parts and the EU said it would retaliate by slapping tariffs on $20 billion worth of U.S. goods.

 

Wednesday is a busy day for corporate earnings reports. Results have already been released by companies including Boeing, General Motors, Coca-Cola and UPS. Facebook will report its latest quarterly results after the closing bell.

 

READ MORE:  https://www.foxbusiness.com/markets/stock-futures-cautious-ahead-of-earnings-tariff-meeting

 

++++++++++++++++++++++++++++++++++++++

 

Winning again...

 

 


You can be sure the Liberals here have a patch on each eye for this great news. If they happen to read your post by mistake they’re  probably sticking dull sticks in the eye and doing everything they can to erase those words from their memory bank.

 Definitely-the truth does hurt—Libs that is!

The economic news just keeps getting better and better, let’s wait and see what the new GDP figures will show.

Report Inappropriate Content
0
Kudos
204
Views
Highlighted
Treasured Social Butterfly
2
Kudos
188
Views
71
Replies

Stock market jumps on US-EU trade optimism

188 Views
Message 72 of 72

Trump, EU agree to work on lowering tariffs, averting a potential trade war

  • President Donald Trump on Wednesday announced that he had secured concessions from Europe, averting a potential trade war.
  • The Dow Jones Industrial Average popped Wednesday afternoon, rising more than half a percent on the news.
  • The Europeans agreed to lower industrial tariffs and import more U.S. soybeans.

U.S. stocks rallied Wednesday, erasing earlier losses, after President Trump and European officials met in Washington for trade talks.

 

The Dow Jones Industrial Average jumped 172.16 points, or 0.68%, to 25,414.10. The S&P 500 gained 25.67 points to close at 2,846.07. The Nasdaq Composite was up 91.47 points at 7,932.24.

 

Trump welcomed Jean-Claude Juncker and Cecilia Malmstrom at the White House on Wednesday afternoon to discuss tariffs between the U.S. and European Union. In an unexpected announcement after the meeting, Trump announced that the U.S. and EU agreed to work toward zero tariffs and zero subsidies on non-auto industrial goods and avoid any new tariffs while talks are ongoing. Trump had threatened to slap tariffs on European car imports.

 

The EU also agreed to buy more U.S. soybeans, while the U.S. will work toward resolving tariffs recently imposed on European steel and aluminum.

 

“The catalyst to unleashing a higher multiple could be the removal of the trade war fears, but today is just the first step,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

 

“Going forward, negotiations with Mexico and Canada will be very important, and the 800 pound gorilla in the room is China, which also serves as the Trump administration’s most difficult challenge.”

 

Earlier Wednesday, Trump said he “hopes to work out a fair and reciprocal trade deal between the U.S. and Europe." Junker told reporters as he sat down with Trump that Europe and the United States were allies and “needed to work together.”

 

Also ahead of the meeting, Larry Kudlow, a top economic adviser to President Trump, was upbeat that both sides could come to a decision that avoids a trade war.

 

“They have a positive attitude going into this. Our team has a positive attitude,” Kudlow said on Fox News’ “Fox & Friends” Wednesday morning. He also called the meeting “absolutely crucial.”

 

Trump has threated up to a 25% tariff on European cars and parts and the EU said it would retaliate by slapping tariffs on $20 billion worth of U.S. goods.

 

Wednesday is a busy day for corporate earnings reports. Results have already been released by companies including Boeing, General Motors, Coca-Cola and UPS. Facebook will report its latest quarterly results after the closing bell.

 

READ MORE:  https://www.foxbusiness.com/markets/stock-futures-cautious-ahead-of-earnings-tariff-meeting

 

++++++++++++++++++++++++++++++++++++++

 

Winning again...

 

 

VIMTSTL
Report Inappropriate Content
2
Kudos
188
Views
71
Replies