S&P 500 surges 2.7% after the U.S. and China announce a 90-truce in their trade war
NEW YORK (AP) — Stocks are surging on Wall Street after China and the United States announced a 90-day truce in their trade war. They agreed to take down most of their tariffs that economists warned could start a recession and create shortages on U.S. store shelves.
The S&P 500 was 2.7% higher in early trading Monday. The Dow Jones Industrial Average jumped 981 points, or 2.4%, and the Nasdaq composite was 3.7% higher.
Crude oil prices jumped because a global economy less weakened by tariffs would be hungrier for fuel. The value of the dollar climbed against other currencies and Treasury yields rose.
More Stories
Super sips to ring in the New Year
How about a plan for New Year’s? No, not a plan for 2026 (that can wait until February). How about...
Editorial: Startups offer hope on critical rare-earth materials
U.S. officials from across the political spectrum vow to ramp up efforts to wean the nation off rare-earth mineral imports...
Business is ‘right to be worried’ by Reform UK, warns Labour’s Liam Byrne
British businesses are right to be concerned about the rise of Reform UK and should demand far tougher scrutiny of...
Stossel: Young people falling for myths of socialism
People criticize capitalism. A recent Axios-Generation poll says, “College students prefer socialism to capitalism.” Why? Because they believe absurd myths....
Disco Biscuits triple up on Hub holiday shows
Three versions of the Disco Biscuits will be in Boston over the holiday week — Same guys, same adventurous spirit,...
Dear Abby: Husband throws wife’s health under the bus
Dear Abby: Two years ago, my husband was told that our adult child’s partner had tested positive for COVID two...