Insights & Musings
It’s Independence Day!
And good news reported across the media on the protracted ‘trade war’ between China and the US. Around the world markets have rallied sharply as hopes of a peace deal in the US-China trade war rise. On 1 July, just in time for the holiday, shares on Wall Street hit highs after President Trump and the Chinese president, Xi Jinping, agreed to resume trade negotiations following a meeting at the G20 gathering of world leaders in Japan last weekend. As a result, the Dow Jones industrial average jumped almost 200 points in afternoon trading in New York, a record, before closing up 117 points at 26,717. The wider S&P 500 index of major American firms closed at a record high of 2964. On a day of gains around the world, the FTSE 100 closed 76 points higher at 7,502.