As signalled by the upbeat performance of both major Asian and European stock markets, Wall Street started the week on a positive note boosted by hopes of the U.S. and China ending the trade conflict when President Trump and President Xi meet toward the end of March. As of writing, both the Dow Jones Industrial Average and the S&P 500 were adding 0.45% on the day while the S&P 500 was up 0.7%.
Earlier today, Kevin Hassett, chair of the White House Council of Economic Advisers, told Fox Business that the China deal could be “finished sometime soon.” Among the 11 major S&P 500 sectors, which are all in the positive territory in the early trade, the trade-sensitive industrials and materials lead the rally by rising 0.65% and 0.6%, respectively.
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