One good news, finally!
Stock futures surge as China's president vows to cut tariffs on car imports, further open markets
By
Mike Murphy
Published: Apr 9, 2018 11:32 p.m. ET
Chinese President Xi Jinping said Tuesday he would cut tariffs on autos imported into China and further open his country's markets,
the Associated Press reported. While not mentioning President Donald Trump's name in his speech, Xi's comments may help reduce fears of a trade war between the U.S. and China, after Trump raised tensions by threatening an additional $100 billion in tariffs on Chinese goods last week. Speaking at a business conference on the island of Hainan, Xi pledged to "significantly lower" tariffs on cars, lessen restrictions on car ownership, open China's finance and banking industries to foreign ownership and respect foreign companies' intellectual property, the AP reported. Dow futures
YMM8, +1.06% , S&P 500 futures
ESM8, +0.95% and Nasdaq futures
NQM8, +1.35% all shot up about 1% immediately after the speech
I'm sensing the correction is starting to look over with a possible resumption, albeit choppy, of an uptrend. Unless the FBI raid on Michael Cohen, Trump's lawyer yields something tangible to upstage the presidency (this was the cause of a 400 point turnaround in the Dow in the last hours of trade yesterday).
