US stocks gain footing in midst of G7

Business

NEW YORK – As the G7 Summit in France comes to a close, the U.S. stock market looks to be optimistic for the time being.

The rally in the stock market began to gain traction when President Donald Trump stated that his negotiators had received encouraging calls from China on Sunday.

The promising news encouraged investors, regardless of the tumultuous pattern that has typically followed attempts at negotiation, namely, tariffs and trade penalties.

President Trump also stated on Monday that the U.S. and China would resume talks and called President Xi Jinping a “great leader,” three days after branding him an “enemy” of the U.S.

Trump expressed his optimism about China hours after he sent mixed messages on the tariff war. He first seemed to express regret Sunday over escalating the trade dispute, however, the White House stated later that his only regret was that he didn’t impose even higher tariffs on China.

The White House announced weeks ago that China’s negotiating team was expected in Washington in September to continue the discussions.

Economic analysts say investors should expect more sharp turns in the midst of trade negotiations.

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