The US markets ended the Monday trading session on green territory after the US-China trade strain was suppressed – at least for now. The Dow Jones industrial average index grew by 298 points to 25,013 points, representing an increase of 1.21%. Monday is the first time since mid-March when Dow ends its session above the threshold of 25,000 points. The shares of major exporters Boeing, Caterpillar and United Technologies, which are expected to be the most favored by the new reassurance, were among the best performing today.
The broader S & P 500 index rose by 0.7% to 2,733.01 points, with the industry sector expanding by 1.5%.
The technology index Nasdaq Composite rose by 0.5% to 7,394.04 points thanks to semiconductor manufacturers.
Late last night, the US Treasury Secretary Steven Mnuchin said that the eventual deployment of a trade war has been postponed for as long as trade negotiations between the two countries are running.
On Saturday, the negotiators from the two largest economies in the world said they would continue their talks on measures that will allow Beijing to bring more energy and agricultural goods from the US in an attempt to reduce the trade deficit for goods and services worth 335 billion USD with Washington.
This should give investors some relief about their commercial concerns. However, analysts expect trade woes to continue, as the US still has plans to introduce customs duties on the aluminum and steel of the European Union at the end of the month.
The crude oil also closed stock trading with increases. The futures of the American variety WTI rose by 1.70% to 72.58 USD per barrel. Meanwhile, the international benchmark Brent increased its value by 1.25% to 79.49 USD per barrel.
The gold also moved on green territory, rising slightly by 0.09% to 1,292.50 USD per ounce.