The Dow rose to its 8th day of consecutive win streak upon reports that China would exclude the US pork and soybeans from its coming tariffs round.
The Dow finished at 34 points or 0.1 percent higher, earning its biggest gains since last May. The index got closed at only 0.8 percent less than Dow’s record closing gain from July, as per Refinitiv.
On the other hand, the S&P 500 finished at 0.1 percent lower while Nasdaq Composite finished at 0.2 percent higher.
It has been a great week for the stocks as the ongoing China and US trade tensions begin to ease. All the three key indexes recorded consecutive gains in the 3rd week.
China took the decision to exclude shrimp, pesticides, cancer drugs and more previously this week from its tariffs.
The President of US, Donald Trump had his own conciliatory measure to China’s decision, agreeing to prolong a planned increase of tariff from 1 October till 15 October.
The Dow elevated by 1.6 percent this week as well as recorded its 3rd consecutive week of gains. The S&P climbed by almost 1 percent while Nasdaq rose by 0.9 percent this week.
Besides this, the Federal Reserve is expected to lower interest rates later on this year as well as in 2020.