U.S. stocks rallied on Thursday as investors cheered a new trade agreement hammered out between the United States and Britain, while President Trump signaled upcoming talks with China would be more substantial than initially thought.
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00:00On a separate news, U.S. stocks rallied on Thursday as investors tear a new trade agreement
00:05hammered out between the United States and Britain, while U.S. President Donald Trump's
00:10signal upcoming talks with China would be more substantial than initially thought.
00:15Britain agreed to lower its tariffs to 1.8% from 5.1% and provide greater access to U.S.
00:21goods as part of the deal, while a 10% baseline tariff on goods imported from the U.K. into
00:27the U.S. remains in place.
00:31Airline stocks shot higher after the U.S.-U.K. agreement-exempted plane parts made by Rolls-Royce
00:36from tariffs, with the S&P 500-percentre airline's index up about 6%, led by a surge in Delta
00:43airlines.
00:44U.S. Commerce Secretary Howard Lunick said the U.K. would buy $10 billion of Boeing craft,
00:50sending the plane makers' shares higher as best performer on the Dow.
00:53Trump also said he expects substantive negotiations between the U.S. and Beijing on the trade front
00:59this weekend and wouldn't be surprised if a deal was reached.
01:03Today we're having a great reaction, and that's primarily due to the tariffs, again,
01:10coming to a resolution with the United Kingdom, with the U.K.
01:15And I kind of feel with tariffs, it feels like two steps forwards, one step back, two steps
01:22forwards, one step back, but we're trending higher in the markets.
01:25So I really like the market reaction.
01:28I think it's doing very well.
01:30It doesn't mean that we can't have more volatility, but I think the worst is over for the markets.
01:36I think the low is already set.
01:39The S&P 500 gained 32.66 points, or 0.58%, to end at 5,663.94 points, while the Nasdaq
01:49composite gained 189.98 points, or 1.07%, to 17,928.14.
01:57The Dow Jones Industrial Average rose 254.48 points, or 0.62%, to 41,368.45.