Dow rallies 500 points as Chinas Xi alleviates trade war fears

[oberliner]

Source: CNBC

Stocks rallied on Tuesday as Wall Street breathed a sigh of relief after China's president said he would work to "open" the country's economy, easing trade war fears.

The Dow Jones industrial average gained 500 points, with DowDuPont as the best-performing stock ion the index. The S&P 500 gained 1.6 percent, with energy leading 10 of 11 sectors higher. The Nasdaq composite also advanced 1.6 percent.

Boeing rose 3.5 percent as concerns of a trade war were alleviated.

Chinese President Xi Jinping discussed plans Tuesday to further open up the country's economy, with measures including lowering import tariffs on autos, enforcing legal intellectual property of foreign groups and reducing duties on other consumer products.

Read more: https://www.cnbc.com/2018/04/10/us-stock-futures-dow-data-tech-and-politics-on-the-agenda.html

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Let's hope it sticks.

[Maven]

1. Something doesn't smell right about this

Feels orchestrated to give Dump a "win".

[oberliner]

2. I'm just happy for whoever has retirement accounts

It was getting scary there.

[erpowers]

8. Xi Blowing Smoke Up America's and Trump's Butt

The details from an AP story I read last night made me think Xi seemed to be blowing smoke up America's and Trump's butt. Xi gave a speech and seemed to try to position himself as the reasonable leader. He seemed to be trying to claim that he and China were attempting to protect free trade. At the same time the concessions he talked about seemed to include a number of "somedays" and "in the future". It seemed like Xi was trying to see if he could string the Trump Administration along long enough to wait them out.

Thing morning I was thinking our situation with China is like a woman who kept badgering her boyfriend to get married. Eventually, she told him either they were going to get married, or she was dumping him. So, the guy proposed with no intention of actually marrying the woman. He just hoped the ring would get the woman to leave him alone for a few more years.

It really would not surprise me if Xi never went through with much of what he said. Even if he goes through with a few small thing that may be done mainly to give himself more time to stall on the big issues. Even a few people in the AP article acknowledged that the final details of any trade deal would be important.

[awesomerwb1]

3. It will be seen as a win for cheeto

I can see Faux running with this.

[oberliner]

4. It shouldn't be seen that way

It really has nothing to do with him.

(And by the way, it's starting to head downward)

[Drunken Irishman]

6. It shouldn't - but it will.

The president is always going to get the blame/credit for the stock market. Always. The economy, and the stock market, is the one thing Trump has going in his favor that could deliver him the White House in 2020.

Even people who don't particularly like what Trump is doing have told me that he can pretty much do whatever he wants just as long as their 401K performs - and it's performed at record numbers for most his presidency. Frankly, if the next three years of the Trump presidency look like the first in terms of economic growth, wage growth and 401K growth, he'll probably win reelection...even with all the scandals that seem to dominate the news.

It's not that I want an economic downturn. I don't. But I understand that if the economy keeps growing, Trump is more likely to remain in office.

[Maeve]

5. Xi speaks, market rallies...tRump speaks, not so much eom

[IronLionZion]

7. Volatility is here to stay as long as twitler is in office

Markets go up and down based on tweets these days