Published: Mon, July 01, 2019
Markets | By Otis Pena

Dow and S&P 500 are on pace for a record day

Dow and S&P 500 are on pace for a record day

The S&P 500 also opened above its most recent closing record, and even surpassed its all-time intraday high at the open.

US stock futures jumped more than one percent when trading resumed on Sunday, after the United States and China agreed on Saturday to restart stalled trade talks.

The five-year JGB yield rose 1 basis point to minus 0.250% and the 10-year yield climbed 1.5 basis points to minus 0.150%. Trump also offered concessions including no new tariffs and an easing of restrictions on Huawei Technologies Co Ltd [HWT.UL], while China agreed to make unspecified new purchases of USA farm products.

"We're right back on track", U.S. President Donald Trump said after the world's two largest economies agreed to restart trade talks.

Tech stocks, which are Wall Street's top performers so far in 2019, jumped 1.80 per cent, with heavyweight Apple Inc's 2.9 per cent gain providing the maximum support.

"Any step towards a trade resolution, and it doesn't have to be a lot of progress - just a step, is viewed very positively by markets", said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.

The breakthrough in trade talks helped the main index start the second half of the year on a strong note, after posting its best first half yearly gains since 1998 on Friday. Eastern time. The Dow Jones Industrial Average rose 231 points, or 0.9%, to 26,831.

Tottenham agree €72m deal with Lyon for Tanguy Ndombele
The bonuses are understood to be easily attainable and relate to Spurs qualifying for the Champions' League on multiple occasions. Ndombele could be joined by Sporting Lisbon star Bruno Fernandes and Arsenal transfer target William Saliba in the coming weeks.


OVERSEAS: The truce between the US and China, along with some upbeat economic data, helped push global shares higher.

In markets, mainland China's Shanghai Composite added 2.22 percent. Shares of Microsoft Corp (MSFT.O), Alphabet Inc (GOOGL.O), (NFLX.O) and Amazon.com Inc (AMZN.O) also boosted the tech-heavy index.

OPEC enforced cut in oil output in early 2019 to arrest the free fall of prices over weakening demand from the falling economic growth and soaring USA production.

The news helped shares in Asia gain overnight as investors piled into riskier assets, which took the shine off safe haven assets including gold and the yen.

Oil prices rose and pushed energy stocks higher as OPEC considers extending production cuts.

Advancing issues outnumbered decliners by a 2.19-to-1 ratio on the NYSE and by a 1.88-to-1 ratio on the Nasdaq.

Like this: