Stocks Surge as U.S.-China Trade Deal Looms
Global stocks reached new highs as optimism about a U.S.-China trade agreement grew. Key economic officials from both nations laid the groundwork for a potential deal. Major U.S. stock indexes climbed, boosted by gains in technology shares, while the U.S. dollar weakened amid increased risk appetite.
Global stocks surged to new highs on Monday buoyed by optimism that a U.S.-China trade deal is imminent. Economic leaders from both nations have created a framework that President Donald Trump and Chinese President Xi Jinping will review in a meeting scheduled for later this week in South Korea.
The anticipation of a trade deal has led to gains in technology stocks on Wall Street, with major indexes setting fresh intraday records. Qualcomm shares rose significantly after announcing new artificial intelligence technology, which will be available commercially next year.
Meanwhile, the U.S. dollar weakened against various currencies, reflecting increased risk appetite amid the trade deal hopes. Investors are now keenly watching forthcoming central bank meetings, including the Federal Reserve's, which is expected to cut interest rates following less-than-expected inflation data.
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