Dow joins S&P 500, Nasdaq to close at record highs
NEW YORK - The dollar strengthened and global stock markets rallied on Monday on signs the United States and China are nearing the end of a damaging trade war as well as indications the world economy may dodge a recession.
Beijing and Washington spoke Friday of progress in trade talks and U.S. Commerce Secretary Wilbur Ross said on Sunday licenses for U.S. companies to sell components to China’s blacklisted Huawei Technologies Co will come shortly. Gold edged lower while the dollar gained on higher risk appetite as trade hopes grew after Ross said there was no reason a deal could not be on track for signing this month.
“Market trends are being influenced by a better risk mood overall,” said Shaun Osborne, chief FX strategist at Scotiabank in Toronto.
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