Main indexes up, led by Nasdaq as US, UK reach trade deal
Cons disc leads S&P 500 sector gainers; Healthcare weakest group
Dollar advances; crude up >3.5%; gold down >1.5%
Bitcoin rallies ~5%; above $100k for first time since Feb 7
US 10-Year Treasury yield rises to ~4.39%
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US STOCKS JUMP ON TRADE PROGRESS
Stocks rose on Thursday after the United States and Britain agreed to a trade deal and as U.S. President Donald Trump recommended buying stocks for the second time.
Trump and British Prime Minister Keir Starmer announced a limited bilateral trade deal that leaves in place Trump's 10% tariffs on British exports, modestly expands agricultural access for both countries and lowers prohibitive U.S. duties on British car exports.
Stocks pared gains, however, after a UK official said that the deal is not finished, but is substantive.
Trump also said he expects there to be substantive negotiations between the United States and China on trade this weekend and predicted that punitive U.S. tariffs on Beijing of 145% would likely come down.
The news boosted hopes that the U.S. would reach deals that avoid the worst tariffs, in turn minimizing the risks of a renewed bout of inflation and significantly slowing growth.
Trump also said it could be a good time to buy stocks, ahead of regulation changes and other trade deals. He said to buy stocks in a social media post in April hours before announcing a 90 day pause on trade levies he had announced a week earlier, which preceded a sharp stock market rally.
The Nasdaq Composite .IXIC led index gainers, with a 1.07% rise, while the Dow Jones Industrial Average .DJI and S&P 500 .SPX were up 0.62% and 0.58%, respectively. Consumer discretionary .SPLRCD led sectors higher, while healthcare .SPXHC was the weakest performer.
Here is Thursday’s closing market snapshot:
(Karen Brettell)
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FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:
AS TARIFF UNCERTAINTIES WEIGH, BARCAP FAVORS VALUE AND YIELD STOCKS CLICK HERE
A RELIABLE BUYER WHEN STOCKS WOBBLE? COMPANIES CLICK HERE
LABOR MARKET: EYE OF THE HURRICANE? CLICK HERE
U.S. STOCKS CHEER EXPECTED TRADE DEAL WITH BRITAIN - CLICK HERE
CHIP STOCKS POWERING UP ON THE CHARTS CLICK HERE
US BULLS SAY ECONOMY WILL BOOM NO MATTER WHAT CLICK HERE
ALPHABET SHORT-SELLERS CLOCKED MORE THAN $800 MILLION IN PROFITS ON WEDNESDAY'S SLIDE CLICK HERE
MOVING ON UP CLICK HERE
EUROPE BEFORE THE BELL: DEAL TIME CLICK HERE
MORNING BID: ARMED CONFLICTS RAGE, BUT HOPES EMERGE FOR A TRADE WAR THAW CLICK HERE
Monitor https://tmsnrt.rs/44pwLP2
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