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TEHRAN, Feb 13 - Signs that the United States and China might reach an agreement in trade talks and news of a tentative deal to avoid another government shutdown in Washington helped push world stock markets and bond yields broadly higher Tuesday.
TEHRAN, Young Journalists Club (YJC)-Tokyo’s Nikkei set the tone with a 2.6 percent rally, its best day of the year, while the Stoxx 600 aindex of European shares gained nearly 0.5 percent.
On Wall Street, the Dow Jones Industrial Average rose 372.65 points, or 1.49 percent, to 25,425.76, the S&P 500 gained 34.93 points, or 1.29 percent, to 2,744.73 and the Nasdaq Composite added 106.71 points, or 1.46 percent, to 7,414.62.
MSCI’s gauge of stocks across the globe gained 1.17 percent.
U.S. and Chinese officials expressed hopes that the new round of talks, which began in Beijing on Monday, would bring them closer to easing their nearly year-long trade war.
Beijing and Washington are trying to hammer out a deal before a March 1 deadline, without which U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.
“There will be no winner in a trade war. So at some point they will likely strike a deal,” said Mutsumi Kagawa, chief global strategist at Rakuten Securities in Tokyo.
In Washington, U.S. lawmakers reached a tentative deal on border security funding, though aides cautioned that it did not contain the $5.7 billion President Donald Trump wants to build a wall on the Mexican border.
“What investors are taking from this is that the government stays open; whether or not Trump signs on the deal is secondary,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
The dollar, meanwhile, slipped but remained near a two-month high after notching its longest winning streak - eight days straight - in two years.
Source:Reuters
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