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The Closing Bell: Stocks Bounce Back After Monday’s Big Reversal South
FYI: Stocks on Tuesday traded higher as comments from President Donald Trump gave investors some hope that the U.S. is ready to reach a deal to ease trade tensions with China, giving the market some much-needed relief.
The Dow Jones Industrial Average on Monday had staged an ugly reversal to end the session with a triple-digit loss, partly on the back of tariff worries amid fears about global growth and peak earning.
Trump said during an interview with Fox News he thought there could be an agreement with China on trade, but said he had billions of dollars worth of new tariffs ready to be imposed if a deal was not possible.
With results in from 277 of the companies in the S&P 500, profits are expected to increase 23% from a year earlier, according to FactSet. That marks one of the highest growth rates since 2011, but the results have done little to stabilize stock markets. Regards, Ted Bloomberg Evening Breifing: https://www.bloomberg.com/news/articles/2018-10-30/your-evening-briefing
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