Economics
Stocks Rally on U.S.-European Trade Agreement: Markets Wrap
- Automakers pare losses; U.S. dollar, 10-year Treasuries slide
- Investors await ECB decision Thursday; oil climbs on inventory
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U.S. equities jumped after Donald Trump reached an agreement with European Commission President Jean-Claude Juncker aimed at averting a trade war. Treasuries declined on the news, while automakers, battered by the threat of tariffs, pared losses.
The S&P 500 Index pushed higher for the third straight day, and the Dow Jones Industrial Average jumped after word of an agreement was first reported by Dow Jones shortly before U.S. markets closed. The two sides agreed to expand European imports of U.S. liquefied natural gas and soybeans and lower industrial tariffs on both sides, Trump later said in a joint statement with Juncker.