Stocks surged Tuesday on hopes for a U.S.-China trade deal after President Trump said he will meet with Chinese President Xi at the G-20 summit. The Dow closed up 1.35% and the Nasdaq rose 1.39%.
advanced 1.4% 7,953.88. The S&P 500 also closed 1.2% from its all-time intraday high of 2,954.13, which was reached May 1." with Xi. He added: "We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting." The summit will start on June 28.
Hope for a U.S.-China trade deal diminished last month after both countries raised tariffs on billions of dollars worth of their goods. Trump also floated the possibility of imposing tariffs on more Chinese imports.Tuesday's moves come as the Fed kicked off a key two-day monetary policy meeting. The Fed's decision is scheduled to be announced Wednesday at 2 p.m. ET. Fed Chair Jerome Powell will also hold a news conference after the announcement.
Draghi's comments sent the euro sliding against the dollar. They also jolted European stocks. The Stoxx 600 index climbed more than 1.5%, along with the German Dax and the French CAC 40." for Europe to compete with the U.S.
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