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The Breakfast Briefing: Dow Jones Futures Skyrocket After Trump-Xi Meeting Ends With China Trade War
FYI: Stock markets around the world rallied after a cease-fire in the trade spat between the U.S. and China boosted investor sentiment.
The Stoxx Europe 600 opened 1.9% higher, with markets from Frankfurt to London posting solid gains. Asian markets were sharply higher.
On Wall Street, futures pointed to opening gains of 1.9% for the S&P 500 and 2.1% for the Dow Jones Industrial Average.
Oil prices also climbed sharply, with Brent crude, the global price benchmark, increasing 4.8% to $62.33 a barrel after Russia and Saudi Arabia agreed to extend efforts by the Organization of the Petroleum Exporting Countries to curb production.
President Trump and Chinese President Xi Jinping approved a deal on Saturday at the Group of 20 meeting in Argentina. It offers Beijing a reprieve from a planned increase in tariffs, scheduled for Jan. 1, on $200 billion in Chinese goods exports to the U.S. Tariffs were scheduled to rise to 25% from 10%. Regards, Ted
