TL;DR
The Dow Jones Industrial Average climbed 300 points after reports of new trade talks between China and the US. The S&P 500 and Nasdaq Composite also gained, with shares of Boeing and Caterpillar rising by 2.8 percent and 1.4 percent, respectively.
According to CNBC, the spike comes after reports that China and the U.S. will renew trade talks before the end of the month, potentially making way for a resolution to the trade war that has threatened to hobble vital sectors of both countries’ economies.
The S&P 500 gained 0.7 percent and the Nasdaq Composite gained 0.6 percent. Shares for Boeing and Caterpillar, which CNBC notes are “bellwethers for global trade,” rose by 2.8 percent and 1.4 percent, respectively.
The high opening offers a stark relief for investors, who have seen steady declines in recent weeks as fears over the health of Turkey’s economy compounded existing anxiety regarding the global economy.
In this story
This story was originally published in 1851 Franchise on August 16, 2018. Burnaze summarizes and links to the original reporting.
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