"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2019-08-26T14:08:08Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2019/08/26/wall-street-trader-react-to-trump-china-trade-phone-call-kosik-sot-nr.cnn"
data-branding-key=""
data-video-slug="wall street trader react to trump china trade phone call kosik sot nr"
data-first-publish-slug="wall street trader react to trump china trade phone call kosik sot nr"
data-video-tags="alison kosik,asia,banking, finance and investments,business and industry sectors,business, economy and trade,china,continents and regions,donald trump,east asia,financial markets and investing,government and public administration,government bodies and offices,international trade,misc people,political figures - us,politics,retail and wholesale trade,street markets and traders,trade and development,us federal government,wall street,white house,diplomatic talks and summits,g7 summits,inter-governmental talks,international relations,international relations and national security"
data-details="">
Video Ad Feedback
Kosik: Some traders skeptical about China G7 phone call
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2019-08-26T14:08:08Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2019/08/26/wall-street-trader-react-to-trump-china-trade-phone-call-kosik-sot-nr.cnn"
data-branding-key=""
data-video-slug="wall street trader react to trump china trade phone call kosik sot nr"
data-first-publish-slug="wall street trader react to trump china trade phone call kosik sot nr"
data-video-tags="alison kosik,asia,banking, finance and investments,business and industry sectors,business, economy and trade,china,continents and regions,donald trump,east asia,financial markets and investing,government and public administration,government bodies and offices,international trade,misc people,political figures - us,politics,retail and wholesale trade,street markets and traders,trade and development,us federal government,wall street,white house,diplomatic talks and summits,g7 summits,inter-governmental talks,international relations,international relations and national security"
data-details="">
Video Ad Feedback
Kosik: Some traders skeptical about China G7 phone call
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2024-03-31T00:30:19Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2024/03/30/cocoa-chocolate-pricing-surge-easter-rodriguez-nr-vpx.cnn"
data-branding-key=""
data-video-slug="cocoa chocolate pricing surge easter rodriguez nr vpx"
data-first-publish-slug="cocoa chocolate pricing surge easter rodriguez nr vpx"
data-video-tags="agricultural commodities,agriculture,agriculture, forestry, and commercial fishing,banking, finance and investments,business and industry sectors,business, economy and trade,commodity markets,consumer products,domestic alerts,domestic-business,easter,financial markets and investing,food and drink,food products,holidays and observances,iab-agriculture,iab-business,iab-business and finance,iab-business banking & finance,iab-commodities,iab-desserts and baking,iab-economy,iab-financial industry,iab-food & drink,iab-industries,international alerts,international-business,kinds of foods and beverages,price increases,sweets and desserts"
data-details="">
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2024-03-22T12:43:25Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2024/03/22/trump-truth-social-prepares-to-go-public-egan-cnntm-vpx.cnn"
data-branding-key=""
data-video-slug="trump truth social prepares to go public egan cnntm vpx"
data-first-publish-slug="trump truth social prepares to go public egan cnntm vpx"
data-video-tags="companies,domestic alerts,domestic-business,domestic-us politics,donald trump,iab-computing,iab-internet,iab-politics,iab-social networking,iab-technology & computing,international alerts,international-business,international-us politics,political figures - us,social media,society,trump media & technology group"
data-details="">
Video Ad Feedback
Donald Trump may be on the verge of a massive financial win
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2024-03-21T05:30:53Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2024/03/21/china-nongfu-spring-boycott-stewart-lkl-hnk-vpx.cnn"
data-branding-key=""
data-video-slug="china nongfu spring boycott stewart lkl hnk vpx"
data-first-publish-slug="china nongfu spring boycott stewart lkl hnk vpx"
data-video-tags="beverages,bottled water,boycotts,business and industry sectors,business, economy and trade,consumer products,food and drink,iab-food & drink,iab-non-alcoholic beverages,kinds of foods and beverages"
data-details="">
Video Ad Feedback
See why some Chinese people are boycotting a popular brand
The Dow and the broader stock market finished sharply higher on rebound Monday, reversing course from Friday’s selloff after President Donald Trump said China wants to get back to the negotiating table.
The Dow
(INDU) closed 1.1% higher, some 270 points. All 30 Dow
(INDU) stocks finished Monday higher.
The S&P 500
(SPX) finished 1.1% higher and the Nasdaq Composite
(COMP) closed up 1.3%. Both the S&P and the Nasdaq had closed lower in the previous two sessions.
Optimism about a possible trade deal between the United States and China held steady throughout the day.
First, China’s Vice Premier Liu He said Monday that an escalation of the trade war would be bad for all parties and “the interest of the people in the world,” while Trump said at the G7 summit in France “I think we’re going to make a deal.”
Then, during a press conference at the summit Monday, Trump added that the United States will only make a trade deal with China if it is “fair” and “good”.
He said a meeting with Iran in the near term is also possible.
That also helped some of the European bourses higher, and the German Dax
(DAX) and the French CAC 40
(CAC40) closed higher. UK markets are closed for the summer bank holiday.
Those $250 billion goods currently hit with a 25% levy, will be taxed at 30%, while the remaining $300 billion worth of imports will be hit with a 15% tariff instead of 10%.
Despite the trade war tensions, one economic indicator showed the US economy remains resilient: Durable goods orders for July climbed 2.1% on the month, much more than expected. Excluding transportation, the orders are up 0.4%.
But that was counterbalanced with the Chicago Fed National Activity Index, which slipped further in July. It was down 0.4% compared with a flat reading in June. A negative index number represents below-trend growth.
“We believe the Chicago Fed National Activity Index remains the best indicator to gauge US recession risks,” wrote Win Thin, global head of currency strategy at Brown Brothers Harrison, in a note to investors.
