Wall St. ends higher as trade fears recede

Video Credit: Reuters Studio
Published on September 30, 2019 - Duration: 01:41s

Wall St. ends higher as trade fears recede

U.S. stocks rallied on Monday as investors set aside worries about the U.S.-China trade war.

Conway G.

Gittens has the trading action.


Wall St. ends higher as trade fears recede

Wall Street ended the third quarter in rally mode as the White House tried to downplay reports it was looking to delist Chinese companies from U.S. stock exchanges.

Investors cheered that as a sign Washington wasn't getting ready to escalate a trade war with Beijing.

Yousef Abbasi is a global market strategist with INTL FCStone.

SOUNDBITE (ENGLISH) YOUSEF ABBASI, GLOBAL MARKET STRATEGIST, INTL FCSTONE, SAYING: "So you're talking about a trillion dollars of market cap in the U.S. trading for Chinese-domicile companies.

It juxtaposes it directly with the $1 trillion and change that they own in U.S. treasuries.

So I think that Trump is reminding China - hey 'if this trade war were to go further and there were going to be financial strings pushed and pulled, we've got the similar amount of capacity in size to impact your markets as you do ours." Tech stocks led the way up with the Dow, S&P 500 and Nasdaq each posting gains of less than one percent.

Class="kln">Apple was a stand-out to the upside.

CEO Tim Cook told a German newspaper sales of the latest iPhone were off to a strong start and JPMorgan raised its forecast on how many iPhones will be shipped.

Shares of Apple rallied more than two percent.

Oil stocks went in the opposite direction.

Persistent worries about demand in China, the world's top importer of crude oil, pulled oil prices and energy shares lower.

ExxonMobil, ConocoPhillips and Marathon Petroleum were among the S&P 500's biggest losers.

Wrapping up a final look at the third quarter: The Dow and S&P 500 gained 1.2 percent.

But the Nasdaq was slightly negative.

It was the stock market's worst quarterly performance so far this year.

You are here


๐Ÿ’ก newsR Knowledge: Other News Mentions






Dow Jones Industrial Average

American stock market index
Watch Abby Dow's try for England as they beat Italy 67-3 in their second round game of the 2021 Women's Six Nations.
Credit: BBC Sport - Published 2 days ago



Related news from verified sources

Wall Street ended higher on Tuesday as the impact of weekend attacks on Saudi Arabia's biggest oil refinery faded and investors awaited a widely expected Fed...
on September 17, 2019 • Reuters India

Wall Street advanced on Thursday, and the S&P 500 ended the session within striking distance of its all-time closing high, buoyed by positive developments on the...
on September 12, 2019 • Reuters India

A fall in technology stocks pulled Wall Street's main indexes lower on Tuesday as weak economic data from China revived global recession fears, but losses were...
on September 10, 2019 • Reuters India

Related videos from verified sources

Delisting of Chinese stocks would cause 'havoc' -Abbasi 06:38
Video credit: Reuters Studio - Published on September 30, 2019 

Investors focused on Trade Before Rates 01:11
Video credit: The Street - Published on September 13, 2019 

Trade hopes lift Wall Street 01:09
Video credit: Reuters Studio - Published on September 11, 2019 

You might like