Dow Surges at Open on Trade-War Truce

Index up more than 400 points early
By Newser Editors,  Newser Staff
Posted Dec 3, 2018 8:47 AM CST
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In this Nov. 29 photo, trader Dennis Maguire, left, works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Investors appear to be pretty happy with the truce between the US and China in their trade war. The Dow jumped more than 400 points, 1.6%, in the first minutes of trading, and the S&P 500 and Nasdaq had similar percentage gains, per MarketWatch. Markets in Europe and Asia also were sharply higher, notes the Wall Street Journal. Over the weekend, President Trump and Chinese President Xi Jinping announced a 90-day truce in economic penalties on each other, and negotiators will try to find middle ground during the interim. Trump continued to laud the deal on Twitter on Monday morning, saying that China will cut tariffs on American cars from the current 40%. (Read more stock market stories.)

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