Dow Jumps 100 Points as Trump White House Whipsaws on Trade War
The Dow and wider US stock market rose in response to a report that Donald Trump could meet with Xi Jinping next month. . | Source: Fred DUFOUR / AFP
The Dow rallied more than 100 points on Monday after the Trump White House whipsawed on the ongoing US-China trade war, providing the US stock market with a jolt of optimism that the two countries would arrive at a deal within the near future. Bitcoin, meanwhile, maintained its recent gains throughout the weekend but needs to see further growth to confirm that market headwinds truly have shifted.
Futures tracking the Dow Jones Industrial Average (blue), S&P 500 (red), and Nasdaq (orange) all climbed on Monday morning.
As of 9:01 am ET, Dow Jones Industrial Average futures had gained 101 points or 0.4 percent, implying a rise of just under 100 points at the opening bell. S&P 500 futures gained 0.32 percent, and Nasdaq futures climbed 0.44 percent to round out a solid pre-bell session for the US stock market.
Today’s pre-market jump came in response to an Axios report that US President Donald Trump and Chinese President Xi Jinping might hold a summit to iron out sticking points that have prevented the two countries from reaching a new trade agreement. The meeting, which would likely take place at Trump’s Mar-a-Lago resort, could take place as soon as next month.
Last week, Trump battered the stock market when he confirmed that he would not meet with President Xi before new tariffs took effect at the beginning of March. While the summit would not take place before that deadline,