Skip to content
Subscriber Only

Stocks, Bonds Rise on China Trade, Stimulus Hopes: Markets Wrap

  • Crude oil surges as OPEC moves closer to extending supply cuts
  • Meetings set this week for Fed, Bank of England, Bank of Japan
Video player cover image
Jared Woodard of BofA says there are a "parade of horribles" in their monthly fund manager survey.Markets: The Open." (Source: Bloomberg)
Updated on

U.S. stocks approached all-time highs on optimism that President Donald Trump will de-escalate his trade war with China, adding to gains sparked by the ECB’s signal it is ready to cut interest rates if warranted. Treasuries and oil rallied.

The S&P 500 trimmed a rally that topped 1.4% at its height as markets digested news that the Trump administration explored demoting Federal Reserve Chairman Jerome Powell in February. Stocks had jumped within 1% of its all-time high after Trump tweeted earlier that he will meet with Chinese President Xi Jinping at the Group of 20 summit next week. Trade tensions have weighed on stocks since Trump escalated his trade war in early May.