- China and US agree to hold high-level talks in October.
- China’s Commerce Ministry says trade call with US went very well on Thursday.
- Risk-sensitive technology shares lead rally in eary trade.
Major equity indexes in the US started the day sharply higher on Thursday on renewed hopes of the US and China moving towards a trade deal before allowing the conflict to escalate any further. As of writing, the Dow Jones Industrial Average was up 1.3% on the day while the S&P 500 and the Nasdaq Composite were adding 1.05% and 1.4%, respectively.
Earlier today, China’s Commerce Ministry announced that sides have agreed to hold the next round of high-level trade talks in October in Washington, adding that today’s trade call went very well with the US.
Boosted by this development, the risk-sensitive S&P 500 Technolgy Index gained traction and was last up 1.75% on the day to lead the rally alongside the Industrials Index, which was rising 1.7%. On the other hand, the defensive Utilities and the Real Estate indexes were both losing more than 1% to confirm the risk-positive environment.
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