The Dow has gained over 300 points thus far today after positive comments from Chinese authorities. The Chinese Ministry of Commerce indicated they do not plan on retaliating to the most recent round of tariffs and emphasized the need to de-escalate the trade war with the US. Ministry of Commerce spokesman Gao Feng urged for both sides to move towards a calm attitude to reduce tensions that have been building up for about a year at this point.
China withholding a retaliation is a good sign for the outlook of the trade war and rebuilds investors confidence in the current state of the market. The onslaught of tariffs have taken their toll on the Chinese economy, as we saw in August when their industrial output fell to a 17-year low. Tech-sensitive stocks like Apple and Microsoft have rebounded nicely today and investors are hoping this news ignites a chain of positive trade news and de-escalation of current tensions.
Business Barrage 