NEW YORK (dpa-AFX) – Signs of relaxation in the trade dispute with China and a strong banking sector created a good mood on Wall Street on Monday. After a losing week, the USstock exchangen their profits now successively in the course of trading.
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The leading index Dow Jones Industrial went 1.98 percent higher at 31,880.24 points from trading. In the past week it had fallen by 2.9 percent. The market-wide S&P 500 climbed 1.86 percent to 3973.75 points on Monday. After initial losses, the technology-heavy Nasdaq 100 turned positive, increasing by 1.68 percent to 12,034.28 points.
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Experts see the fact that the US government, in view of the high inflation rate, is considering abolishing some of the punitive tariffs on imports from China introduced under the Trump administration as a course support. Also, a strong banking sector after JPMorgan raised its full-year forecast for net interest income.
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