The stock market has continued to make higher highs with the Dow Jones and NASDAQ leading the pack on Tuesday. The S&P 500 also made considerable gains as it closed just under its all-time high on the same day.
Analysts speculate that the drive of the stock market was caused by earnings posted by companies being higher than expected, interest rate cuts, as well as an incoming trade deal with China.
The S&P 500 is up 22.7 percent this year, which reflects the strong financial outlook for the economy as a whole.
The main news that saw the stock market soaring these past few days was Washington’s and Bejing’s agreement to “phase one” of the proposed trade deal.
Although little has been heard since the tentative decision, the US said that it would consider cutting tariffs on Chinese imports that will affect $156 billion in incoming goods. Additionally, the two governments may possibly roll back September 1st tariffs that will affect $110 in goods wrote Sal Guatieri, economist at BMO.
Aaron has been reporting on financial markets for more than 6 years. He now spends his time contributing to PriceAnalyses and studying geography. Contact: firstname.lastname@example.org.