11/8, 1:45 PM (Source: TeleTrader)
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Wall Street recovers after optimistic US-EU trade signals

Major stock market indexes in the United States improved in premarket on Friday after Secretary of State Mike Pompeo expressed his country's desire to increase trade with Europe. The statement comes a day after European Commission President Jean-Claude Juncker's opinion from yesterday that Washington will not impose import tariffs on cars from the European Union.

Meanwhile, the Foreign Ministry in Beijing said it had no further updates on yesterday's reports on mutual cancelation of tariffs between China and the US. However, Director of Trade and Manufacturing Policy of the US, Peter Navarro, stated that there is "no agreement at this time to remove any of the tariffs as a condition of the phase one deal."

The Dow Jones climbed 0.16% at 7:42 am ET, while the S&P 500 grew by 0.06% at the same time. The Nasdaq 100 was flat at 7:43 am ET.

The euro declined 0.15% against the dollar to go for 1.10300 at 7:43 am ET. The British pound was 0.11% lower compared to the greenback to change hands for 1.28010 at the same time.

Breaking the News / MS