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Stocks Rally Amid U.S., China Conciliatory Remarks: Markets Wrap

  • Xi, Trump ratchet down heated rhetoric on tariffs, trade
  • Oil and gold gain, havens including Treasuries and yen retreat
Bloomberg business news
Equities are "still reasonably attractive as an asset class," says Goldman Sachs’s Sharon Bell.Source: Bloomberg
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Stocks surged after conciliatory comments from U.S. President Donald Trump and Chinese President Xi Jinping aimed at releasing some pressure from the trade tensions between the world’s biggest economies. Treasuries fell with the dollar.

Major U.S. equity indexes spiked higher Tuesday afternoon following Trump praise of Xi’s “kind words on tariffs and automobile barriers.” Earlier, in a keynote address before the Boao Forum for Asia, China’s leader backed free trade and dialog to resolve disputes and pledged to open the nation’s banking and auto manufacturing sectors.