Morning Trading: Monday Stocks and Hong Kong

morning trading: Major indexes in Hong Kong and Shanghai leaped more than 2.5% on Monday, according to CNN. Stocks were up 2% or more in London, Frankfurt and Paris in morning trading. Stocks jumped higher around the world on Monday after the United States and China said they would hold fire on further tariffs for the time being and try to settle their differences through talks. Meanwhile, Dow futures spiked about 500 points, or 2%. The good news is that this truce should be seen as Washington recognizing the potential damage on the US economy if tariffs escalate further, said Tai Hui, chief market strategist for Asia Pacific at JPMorgan Asset Management. Crude oil, which has been hammered by worries that slowing global growth could hurt demand, spiked more than 4%. Oil price volatility will continue as long as the markets flip-flop from 'risk on' to 'risk off' and while there is uncertainty about how fast the global economic cycle is slowing, but for now a bounce from recent weakness can persist, noted Kit Juckes at Societe Generale.US President Donald Trump and his Chinese counterpart, Xi Jinping, agreed on Saturday to a temporary truce in the trade clash between the two countries. Trump and Xi celebrate warm talks but remain far away from a final deal on trade Autos and oil get a boost Read More Other riskier assets also got a lift. (news.financializer.com). As reported in the news.