Major equity indexes started the day in the positive territory on Tuesday as latest tweets from U.S. President Trump helped the market sentiment turn positive and allowed stocks to stage an overdue correction following the latest selloff. As of writing, the Dow Jones Industrial Average and the S&P 500 were both up 0.5% on a daily basis while the Nasdaq Composite was adding 0.6%. Meanwhile, the CBOE Volatility Index, Wall Street’s fear gauge, is losing more than 10% on the day to confirm the risk-on atmosphere.
Among the 11 major S&P 500 sectors, Energy and Technology are both rising more than 1% to lead the gains. On the other hand, the defensive Utilities is the only sector in the negative territory, down 0.45% on the day.
“When the time is right we will make a deal with China,” President Trump tweeted out and said that the deal would happen much faster than people think.
“My respect and friendship with President Xi is unlimited but, as I have told him many times before, this must be a great deal for the United States or it just doesn’t make any sense,” Trump explained. “We have to be allowed to make up some of the tremendous ground we have lost to China on Trade since the ridiculous one-sided formation of the WTO.”
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