FYI: U.S. stocks climbed Monday after President Trump said China wants to strike a trade deal, signaling a potential de-escalation in trade tensions between the world’s two largest economies.
The Dow Jones Industrial Average rose 269 points, or 1.05%, to 25798. The S&P 500 advanced 1.10%, and the Nasdaq Composite added 1.32%.
Stocks, bonds and currency markets have swung wildly over the past few days as traders have scrambled to make sense of the direction of U.S.-China trade talks. Stock futures had initially slid late Sunday after White House officials said Mr. Trump regretted not increasing tariffs on China further.
U.S. stocks climbed Monday after President Trump said China wants to strike a trade deal, signaling a potential de-escalation in trade tensions between the world’s two largest economies.
Stocks, bonds and currency markets have swung wildly over the past few days as traders have scrambled to make sense of the direction of U.S.-China trade talks. Stock futures had initially slid late Sunday after White House officials said Mr. Trump regretted not increasing tariffs on China further.
Corporate news drove swings among individual stocks.
Bristol-Myers Squibb shares rose 2.6% after the U.S. pharmaceutical giant moved a step closer to securing regulatory approval for its proposed acquisition of Celgene. Shares of Celgene advanced 2.7%.
Lyft jumped 4.2% after Guggenheim analysts raised their rating for the stock to “buy” from “neutral.”
Elsewhere, the Stoxx Europe 600 slipped less than 0.1%, amid low trading volumes around the region. The French CAC 40 rose almost 0.5%, while the German DAX gained about 0.4%. U.K. exchanges were closed for a holiday.
Asian stocks and global government bond yields fell earlier Monday as late-weekend comments from the U.S. on trade deepened concerns about global growth prospects.
China’s Shanghai Composite shed 1.2%.
Meanwhile, Hong Kong’s Hang Seng fell 1.9%, as pro-democracy protests turned violent after nearly two weeks of relative calm.
Separately, China’s currency weakened to a new multiyear low, weeks after Beijing first allowed it to trade beyond the symbolic level of 7 yuan per dollar. The currency is both a flashpoint in relations with the U.S., and a means for China to make its exports more competitive, helping offset the impact of U.S. import tariffs.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-08-26/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stock-futures-point-higher-as-trump-says-china-wants-to-return-to-negotiating-table-2019-08-26/printWSJ:
https://www.wsj.com/articles/global-stocks-fall-as-trade-tensions-escalate-11566787858Bloomberg:
https://www.bloomberg.com/news/articles/2019-08-25/yen-gains-stocks-to-drop-as-trade-war-ramps-up-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/trade-deal-talk-by-trump-ends-markets-plunge-apple-facebook/CNBC:
https://www.cnbc.com/2019/08/25/dow-futures-drop-300-points-at-the-open-as-us-china-trade-war-escalates.htmlReuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-bounces-on-softer-trade-tone-idUSKCN1VG18KU.K:
Closed: (Bank Holiday)
Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-steady-as-trade-tensions-ease-italy-outperforms-idUSKCN1VG0HQAsia:
https://www.cnbc.com/2019/08/26/asia-markets-august-26-us-china-trade-war-oil-currencies.htmlBonds:
https://www.cnbc.com/2019/08/26/treasury-yields-fall-investors-flee-risk-trade-war.htmlCurrencies:
https://www.cnbc.com/2019/08/26/forex-markets-us-china-trade-war-in-focus.htmlOil:
https://www.cnbc.com/2019/08/26/oil-markets-us-china-trade-war-in-focus.htmlGold:
https://www.cnbc.com/2019/08/26/gold-markets-us-china-trade-war-us-stocks-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
