President Trump’s tweet minutes after the open sent markets soaring. Leaders of the two largest economy spoke on the phone and expectations are for them to hold an extended meeting at the G-20. Markets previously were concerned if Xi was going to attend and if anything of substance would come out of the G20 summit. China’s state media confirmed the call between Trump and Xi.
Source: Twitter
Investors rushed to US stocks, with the S&P 500 index rising 1.1%, the Dow Jones Industrial higher by 1.3% and the tech heavy Nasdaq leading the rally with 1.8% gain. The dollar also remains near its high of the session.
US equities may be poised to make a run at those record highs if we see continued trade optimism and a strong dovish signal from the Fed.
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Ed Moya
His particular expertise lies across a wide range of asset classes including FX, commodities, fixed income, stocks and cryptocurrencies.
Over the course of his career, Ed has worked with some of the leading forex brokerages, research teams and news departments on Wall Street including Global Forex Trading, FX Solutions and Trading Advantage. Prior to OANDA he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news.
Based in New York, Ed is a regular guest on several major financial television networks including CNBC, Bloomberg TV, Yahoo! Finance Live, Fox Business, cheddar news, and CoinDesk TV. His views are trusted by the world’s most respected global newswires including Reuters, Bloomberg and the Associated Press, and he is regularly quoted in leading publications such as MSN, MarketWatch, Forbes, Seeking Alpha, The New York Times and The Wall Street Journal.
Ed holds a BA in Economics from Rutgers University.
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