Wall Street moved higher on Wednesday, led by tariff-sensitive technology and in...
NEW YORK - Wall Street moved higher on Wednesday, led by tariff-sensitive technology and industrial stocks after China extended an olive branch ahead of next month’s trade negotiations with the United States.
China announced tariff exemptions for a basket of U.S. goods, a move viewed by many investors as a show of good faith just weeks ahead of planned talks aimed at resolving the trade war, which has bruised world economies and rattled markets for months. “The general market still believes that a real deal is possible and all of these moves by the White House and China are simply negotiating tactics,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “ that belief swings on a daily basis based on tweets and statements from China.
In a series of morning tweets, President Donald Trump called on the U.S. Federal Reserve to slash interest rates into negative territory, a move typically seen as a last-ditch effort to revive sluggish economies.
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