MTS Futures News_AM_20190724
· Stocks rose Tuesday on news that face-to-face talks between U.S. and Chinese trade negotiators would begin next week. A batch of stronger-than-expected earnings also lifted investor sentiment.
The Dow Jones Industrial Average closed 177.29 points higher, or 0.7%, at 27,349.19. The S&P 500 also advanced 0.7% to close back above 3,000 at 3,005.47. The Nasdaq Composite gained 0.6% to close at 8,251.40.
CNBC’s Kayla Tausche reported, citing sources, that in-person talks will begin next week. However, sources also said White House officials are eyeing a longer-term timeline for a deal.
· Bloomberg News initially reported that in-person talks between China and the U.S. would start Monday as U.S. negotiators headed to China. The U.S. delegation will be led by Trade Representative Robert Lighthizer and will be in China through Wednesday, according to the report.
· European stocks closed higher Tuesday as investors digested a strong set of corporate results and looked ahead to this week’s European Central Bank policy meeting.
The pan-European Stoxx 600 closed provisionally up by 1%, with the majority of sectors and major bourses in positive territory.
· Stocks in Asia Pacific traded mixed on Wednesday following developments on the U.S.-China trade front.
The Nikkei 225 in Japan traded 0.41% higher in early trade, while the Topix index added 0.34%.
Over in South Korea, the Kospi slipped 0.21%.
Shares of Apple supplier LG Display dropped more than 2% after the firm reported a larger-than-expected second-quarter operating loss. The company also said it is looking to diversify its supplier base amid the ongoing diplomatic spat between Tokyo and Seoul that has seen Japan place export curbs on important materials to South Korea.
Wednesday is the deadline for public comment on the Japanese government’s plan to remove South Korea from a list of “white list” countries with minimum trade restrictions, the Nikkei Asian Review reported Tuesday.
Meanwhile, the S&P/ASX 200 in Australia rose 0.47% as most sectors saw gains.
In corporate news, Japan’s Mitsubishi Motor is set to release its earnings for the first quarter later on Wednesday.