The DJIA opened 300 points higher this morning as China the U.S. agree to a new round of trade talks in August.
Wall Street had a good morning on Thursday, as the Down Jones Industrial Average climbed 300 points over night.
According to CNBC, the spike comes after reports that China and the U.S. will renew trade talks before the end of the month, potentially making way for a resolution to the trade war that has threatened to hobble vital sectors of both countries’ economies.
The S&P 500 gained 0.7 percent and the Nasdaq Composite gained 0.6 percent. Shares for Boeing and Caterpillar, which CNBC notes are “bellwethers for global trade,” rose by 2.8 percent and 1.4 percent, respectively.
The high opening offers a stark relief for investors, who have seen steady declines in recent weeks as fears over the health of Turkey’s economy compounded existing anxiety regarding the global economy.
Read the full article at cnbc.com.