Markets

Dow Jones jumps above 28,000 on Trump's tweet

2019-12-12 15:28:30 GMT (Economies.com)

US stocks opened today higher, after the markets digested the Federal Reserve's decision, but Wall Street was buoyed by President Trump's tweet a while ago.

 

Trump tweeted "the US us getting very close to a big deal with China", but he did not elaborate more.

 

This comes amid lingering uncertainty in markets with anticipation of any updates or results about the ongoing trade talks between Washington and Beijing.

 

Most investors are uncertain about whether the US will impose the tariffs hike decision on Chinese imports by December 15, or not.

 

Trump's remarks conflicts with what he previously said a trade agreement with China might have to wait until after the presidential election in 2020.

 

Data showed today that PPI was stable in November, and the the unemployment claims rose by 49K to 252K during the last week.

 

As for trading, Dow Jones jumped 0.6% or 180 points to 28,085 as of 14:52 GMT, Nasdaq rose by 0.5% or 47 points to 8,701, and S&P 500 added 0.4% or 14 points to 8,156.

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