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US stocks trade higher on eased trade concerns

IANS  |  New York 

US stocks traded higher on Monday as trade tensions between and the showed signs of relaxation.

At midday, the added 152.21 points, or 0.61 per cent, to 24,983.38, reports

The increased 10.68 points, or 0.39 per cent, to 2,738.40. The Composite Index was up 36.11 points, or 0.49 per cent, to 7,438.99.

US said on Sunday that and are working to get Chinese ZTE, which is suffering from a US exports ban, back into business.

The two sides "are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast," said Trump in a tweet.

Trump's words came ahead of a new round of trade talks between the two sides later this week.

Chinese will visit the US from May 15 to 19 for economic and trade consultations, a said Monday.

US stocks surged last week, as Trump's decision to withdraw from the nuclear deal sent sharply higher while tamed inflation data eased concerns about the pace of the US central bank's tightening strategy.

For the week, all three major indices posted solid gains, with the Dow, the and the rallying 2.3 per cent, 2.4 per cent and 2.7 per cent, respectively.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 15 2018. 03:06 IST
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