Trading Session: Wall Street and Lmanufacturing Companies

trading session: Wall Street rallied sharply in New York after opening for trading on Monday morning, before paring some of its earlier gains in the afternoon, according to The Guardian. The Dow Jones Industrial Average had risen by almost 300 points by the end of the trading session, led by lmanufacturing companies such as Boeing and Caterpillar. In reprieve for financial markets, the development came after a two-and-a-half-hour dinner meeting between Donald Trump and Xi Jinping in Buenos Aires, following months of escalating tensions around trade and other issues. The FTSE 100 index in London closed up more than 1%, while Germany's Dax jumped 2.3%, France's CAC gained 1%, Spain's Ibex rose 1.1% and Italy's FTSE MIB gained 2.3%. Quick guide Lowdown on trade war truce between US and China Show Hide What are the terms of the truce between the US and China Washington agreed to postpone by 90 days the increase in tariffs from 10% to 25% on 200bn of Chinese goods, due to kick in on 1 January, while China pledged to import more US products, including according to Washington farm, energy and industrial products. Trump tweeted that China had also agreed to reduce and remove tariffs on US car imports from the current 40% level but there was no confirmation from Beijing. This should help shrink the US trade deficit with China. (news.financializer.com). As reported in the news.