SPX500 closes at all time high on trade truce
Wall Street ended higher yesterday, as markets continued to climb following the temporary agreement between the US and China to suspend new import tariffs, and President Trump saying a new round of trade talks is underway. The SPX500 closed at a new all-time high, while the DJ30 and NSDQ100 also registered gains. Tech stocks boosted markets, with Apple, Amazon and Google showing strong gains. Several stocks hit fresh all-time highs, including Oracle and Visa.
Today’s highlights: Bitcoin falls below $10,000
- Asian markets mostly lower: The Reserve Bank of Australia announced another rate cut overnight, giving stocks in the Asia-Pacific region a boost. However, top indices later reverted to losses, as the JPN225 and China50 indices were lower at the time of writing. In contrast, the HKG50 showed strong gains. Markets could be further affected by RBA Governor Philip Lowe, who will be speaking at the RBA Board Dinner tonight at 21:30 GMT.
- Oil could breach $60: After staying between $50 and $60 over the past month, the black gold could climb above the $60 mark this month. Yesterday, OPEC announced that it is extending its global production slowdown by at least 9 months, a decision that could boost prices. This morning, oil prices rebounded and were on the rise.
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02/07/2019 appeared first on eToro.