6/18, 10:02 PM (Source: TeleTrader)
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Wall Street ends with strong gains on trade optimism

United States stock markets finished the Tuesday trading session with strong gains after US President Donald Trump confirmed that he will have an "extended" meeting with his Chinese counterpart Xi Jinping at next week's G20 summit in Japan. Trump added that the two country's delegations will resume the stalled trade negotiations ahead of his meeting with Xi. Meanwhile, US Trade Representative Robert Lighthizer said that no decision has been made yet regarding the next round of tariffs on Chinese imports.

Meanwhile, Trump described European Central Bank President Mario Draghi's comments on a potential rate cut as "unfair" to the US since they led to a drop in the euro and made EU exports more competitive. Draghi responded by stressing that the ECB does not target the exchange rate.

The Dow Jones was up 1.35%, or 353 points at the closing bell, pushed higher by Boeing after the International Consolidated Airlines Group (IAG) said it will purchase 200 737 MAX aircraft for more than $24 billion. The Nasdaq 100 surged 1.45% with Xilinx semiconductor manufacturer the best performer. Meanwhile, the S&P 500 gained 0.97% to finish firmly in the positive territory, also helped by chip makers. The euro was down 0.18% lower against the dollar to sell for 1.1197 at 4:02 pm ET.

Breaking the News / FH