Weekly Financial Market Update September 6, 2019
September 9, 2019
Bulls took charge in the holiday-shortened week, propelled by an apparent cooling of tensions in the intensifying trade dispute between the U.S. and China. The positive sentiment pushed the S&P 500 up 1.8% to close within 1.6% of its all-time high, while the Dow Jones Industrial Average added 393 points to finish the week at 26,797.46.
Last Wednesday evening, news broke that top-level trade negotiations from the governments in Washington and Beijing would hold in-person discussions in early October.
Meanwhile, a 15% tariff on roughly $110 billion of Chinese imports went into place on September 1, while a tariff increase from 25% to 30% on $250 billion worth of Chinese goods is scheduled for October 1. In fixed income markets, yields on the 10-year U.S. Treasury bond closed at a three-year low of 1.46% on Tuesday before pushing higher later in the week to settle at 1.55%.
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