Major equity indexes in the U.S. started the week on a strong note on Monday boosted by positive headlines surrounding the U.S. – China trade conflict. As of writing, the Dow Jones Industrial Average was up 0.65% on the day while the S&P 500 and the Nasdaq Composite were adding 0.55% and 0.88%, respectively.
Earlier today, U.S. President Donald Trump said that the U.S. had made substantial progress in trade talks with China on important structural issues. “As a result of these very productive talks, I will be delaying the U.S. increase in tariffs now scheduled for March 1,” Trump announced via Twitter. Moreover, Trump in the last hour crossed the wires repeating that the U.S. was very close to having a trade deal with China.
Among the 11 major S&P 500 sectors, trade-sensitive technology and industrials sector both gain around 1% to lead the rally. On the other hand, defensive sectors utilities and real estate are staying in the negative territory in the early hours of the session.
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