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Post by bot on Dec 3, 2018 12:59:45 GMT -5
Dow surges more than 400 points amid broad stock-market rally on trade-war pause
The Dow industrials soared, along with the broader market, on Monday, after the U.S. and China called a truce to their trade war over the weekend. The Dow Jones Industrial Average climbed 420 points, or 1.6%, at 25,955, the S&P 500 index advanced 1.4% at 2,799. The S&P 500 was on the brink of returning to a psychologically significant level at 2,800 while the Dow was flirting with 26,000. The Nasdaq Composite Index rose 1.8% at 7,464. Optimism was primarily supported by a momentary end to a trade standoff between the U.S. and China at the G-20 meeting in Argentina. Although, the Buenos Aires gathering, that included a highly-anticipated dinner between President Donald Trump and Chinese leader Xi Jinping, didn't result in a firm trade agreement, investors took heart in a pause in tensions between the two largest economies in the world for the next three months.
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