Stocks Rise as Trump Says ‘Buy’ Before China Talks: Markets Wrap

Wall Street’s risk-on mood prevailed on Thursday, with stocks up and bonds down as Donald Trump announced a trade deal with the UK while noting that if China talks go well, tariffs could be lowered. Equities also gained after the president said investors should buy shares now.

For a market hoping for an easing of tensions between the US and its top commercial partners, that was enough to boost the S&P 500 - with the gauge briefly topping its April 2 high before the advance subsided. While most major industries rose, gains were led by economically-sensitive sectors. Bitcoin surpassed $100,000. As the safety bid ebbed, gold and haven currencies fell. Treasury yields surged as traders pared bets on interest-rate cuts.