EU seeks US trade detente after China reprieve
Though tensions abated, the two countries haven't reached a final resolution yet.
"I'm very skeptical that we're anywhere near a resolution on China", said Peter Cecchini, chief market strategist at Cantor Fitzgerald. "It's a very complicated issue".
"'On Hold' is a risk-on term.The absence of trade tariffs and hostile tone between the two countries has also impacted the gold price more adversely", Aslam said.
That contributed to a broad rally in technology stocks.
For the moment, though, markets found room to maneuver in the latest trade developments.
The company, publicly traded but whose largest shareholder is a Chinese state-owned enterprise, had been hit with penalties for breaking a 2017 agreement after it was caught illegally shipping USA goods to Iran and North Korea, in an investigation dating to the Obama administration.
It confirmed on Monday it will merge its transportation business with rail equipment maker Wabtec (WAB), which jumped about 3.5 percent.
The Dow Jones Industrial Average rose 298.2 points, or 1.21 percent, to 25,013.29, the S&P 500 gained 20.04 points, or 0.74 percent, to 2,733.01, and the Nasdaq Composite added 39.70 points, or 0.54 percent, to 7,394.04. Earlier in the day the index had climbed as much as 371 points.
France's CAC 40 rose 0.4%, while Italy's FTSE MIB stock-market index slid a further 1.5% on concerns about antiestablishment parties' advances in forming a new government.
Sanders announces Senate re-election bid
"Working together over the past few years we have accomplished a great deal - but much, much more remains to be done". Several independent candidates have also indicated they plan to seek Sanders' senate seat in November.
Big 7th inning leads Arkansas past Georgia
If the two should tie for the title, the Rebels own the tie-breaker because of head-to-head competition. The win improved Arkansas to 18-10 in SEC play to maintain a 1 game lead over Ole Miss in the SEC West.
Cops: Man punched pregnant woman and her service dog on FL flight
Petrini Manley told the station that the incident was all a misunderstanding and that her husband hit the dog by accident. She and her 30-year-old boyfriend are also deaf, and were traveling with their service dog , a Great Dane named Zariel .
Industrials was the best performing S&P sector overnight, gaining 1.5 per cent. "There is no question the United States did not move as proactively as it should have during the 2000s with China's exports to the USA were rising dramatically".
"This is an indication of what we'll see near term, because we are through earnings, relatively light on macro data, and with geopolitics it seems like some of the emotion has been reduced between now and the Korean summit", said Gordon Charlop, managing director at Rosenblatt Securities in NY.
Mnuchin said Commerce Secretary Wilbur Ross would soon be traveling to China to follow up on the discussions held Thursday and Friday in Washington.
As a result of the shale gas boom, the USA is avidly seeking new export markets and wants to compete with Russian Federation and Norway, the EU's current main gas suppliers.
In December, the Paris-based International Energy Agency (IEA) said that China's demand for natural gas will continue to soar toward 2040, outstripping domestic output by around 43 percent. "It's noise; in the midterm, it's going to come down to what's being delivered growth-wise and earnings-wise".
Last year, the US had a record deficit with China in merchandise trade of $375 billion, the largest with any nation. Meanwhile, corporations have been buying their own stock back at a record pace. The U.S. needs the help of Beijing, which wields influence in Pyongyang, to help seal North Korea's border and prevent goods from reaching Kim's regime in violation of worldwide sanctions.
Bond prices fell. The yield on the 10-year Treasury note rose to 3.07 percent.
Traders are also awaiting the release on Wednesday of minutes from the US Federal Reserve's last policy meeting, hoping for fresh clues about its plans for raising interest rates. Germany closed for a holiday.
USA crude rose 1.8 percent to $72.56 per barrel and Brent was last at $79.52, up 1.29 percent on the day. It was the biggest percentage gainer on the Dow and lifted the blue-chip index. Japan's Nikkei 225 rose 0.3 percent.
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