12/4, 10:17 AM (Source: TeleTrader)
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Dow jumps 100 points premarket on fresh trade deal hopes

Stocks in the United States rose in premarket trading on Wednesday with the Dow Jones Industrial Average surging over 100 points after reports emerged the United States and China are nearing an agreement on canceling some tariffs on each other's goods and reaching a phase one trade deal. A day earlier, stocks dropped sharply on trade concerns as US President Donald Trump hinted he may not want to make an agreement with Beijing before the 2020 presidential election. Investors also focused on the NATO summit in London, where Trump is set to meet German Chancellor Angela Merkel later in the day.

The Dow Jones gained 0.45% or 122 points at 4:18 am ET, the Nasdaq 100 added 0.54% and the S&P 500 was up 0.39% at the same time.

The euro lost 0.08% against the dollar to sell for 1.10714 at 4:21 am ET, while the pound increased by 0.32% compared to the US currency to go for 1.30382 at the same time.

Breaking the News / NP