The US economy is currently going through the most volatile situation because anything relating to the trade war is affecting on US stock market. Now recently US stock market performed well when the news came that both countries presidents have met and discussed the ongoing trade war dispute. The S&P 500 rose by more than 0.39%, which shows that investors felt lots of positive about ongoing trade talks of both countries. NASDAQ, on the other hand, rose up by 0.67% or 53.11 points. Donald Trump and Xi Jinping recently met and discussed trade war issues which both countries were facing and gave hope that this dispute might end pretty soon.
Now, as a result of that US stock market gave an entirely reasonable response to Trump’s decision of going ahead to resolve the dispute with China. Last few months haven’t been good for the US stock market because significant stock indexed has not performed well. President trump refrains from saying that he is going to levy taxes on Chinese goods worth more than $300 billion, which somehow, a few days ago created a situation of panic.
As a precondition of a trade agreement between these two countries, the US has agreed to lift taxes on primary Chinese goods to start the trade talks. Earlier Trump was not in the mood of giving tax incentives to the Chinese government. However, now, the situation has completely changed, and both countries are going to solve this issue. Soon after this decision, all major chip stocks including Intel (INTC), Qorvo (QRVO), Nvidia (NVDA) and Advanced Micro Devices (AMD) rose up. Electronic companies gained lots of benefits from this new since their core business depends upon China. There are many other tech companies which performed well, and investors did show a good sign during the whole intraday trading.
William has an experience of more than seven years writing for the web. In the recent couple of years, he’s been focusing on the business sector, watching market trends and the growth of economies. At News IMN, we use his services to keep our readers updated about the market that decides their lives.