US EditionUS Stock Futures Rally As Trump Softens Tone On China - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), SPDR S&P 500 (ARCA:SPY)
Trump announced 100% tariffs on Chinese goods amid rare earth export restrictions, then softened his stance to calm markets, affecting global trade dynamics and investor confidence.
- In a Truth Social post on Sunday, US President Donald Trump eased tensions, writing `Don't worry about China, it will all be fine! Highly respected President Xi just had a bad moment.`
- On Friday, Trump threatened a 100% tariff on Chinese goods from 1 November after China’s commerce ministry added five rare earths to export restrictions and accused the US of 'double standards'.
- After the tariff warning, markets reacted with the broad S&P 500 tumbling on Friday before premarket trading showed the SPY at $662.36 and the QQQ at 600.87 with Nasdaq-100 futures up almost 2%.
- The rally followed reassuring comments from US President Donald Trump, as Wall Street was poised for a buoyant start with U.S. stock futures rallying and West Texas Intermediate crude oil rebounding almost 2%, but investors remained cautious after a nearly 1% sell-off on Friday.
- China controls over 90 per cent of processed rare earths, and Trump’s return on January 20, 2025 has reignited a trade conflict shaped by his 2024 tariff pledges.
25 Articles
25 Articles
Herald Bulletin
Wall Street claws back some big losses as Trump softens tone on China
Gains by chipmakers pushed Wall Street significantly higher before markets opened as trade tensions between China and the U.S. appeared to soften over the weekend. Futures for the Dow Jones Industrial Average rose 0.9% before the bell Monday, while futures…
US Stock Futures Rally As Trump Softens Tone On China - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), SPDR S&P 500 (ARCA:SPY)
Wall Street is poised for a buoyant start to the week as U.S. stock futures rallied Monday morning, driven by easing concerns over trade relations with China and a rebound in oil prices. Investors appear to be shaking off last week's volatility, with major indices showing solid pre-market gains. As of early trading, futures tied to the Dow Jones Industrial Average rose by approximately 1%, while S&P 500 futures climbed 1.5%. The tech-heavy Nasda…
A deal between Beijing and Washington should be at the end of the month. But now China is surprisingly expanding export controls for rare earths. Donald Trump is raging and imposing 100 percent tariffs. The EU is also suffering.
ANALYSIS - The US President softened the tone of his new trade offensive this Sunday, fuelling the confidence of Beijing's leaders.
Coverage Details
Bias Distribution
- 43% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
