With the Dow rallying to a 400 point high, US markets saw steady gain. Trump’s tweet has reported sent the market into a tizzy, calming the US-China earlier trading woes.
While Trump’s tweet sent the global markets soaring. Meanwhile, India’s Nifty 50 failed to sustain its initial euphoria. The Nifty 50 initially opened gap up and gained 82 points, but sunk lower during intra day trade and is up now just 19 points
President Donald Trump in his tweet said he had a fruitful conversation with President Xi Jinping and would meet him at the G20 Summit in Japan next week.
This tweet helped the US markets remain buoyant all day with the Dow closing at up 353 points, or 1.4%. and S&P 500 (SPX) and the Nasdaq Composite (COMP) finishing 1% and 1.4% higher, respectively. European stocks also closed in the green.
June also saw the Dow and the S&P up 6.7% and 6%, respectively. The Nasdaq too is all set for a 6.7% jump this month.
Earlier, Trump claimed the seven Fed interest rate hikes in 2017 and 2018 — from the near-zero levels that followed the financial crisis, has stunted U.S’s economic growth.
