The Dow swung wildly on Thursday, as Wall Street digested new trade war developments – all while recoiling from an 800-point DJIA bloodbath. | Source: AP Photo / Richard Drew
By CCN Markets: A volatile Dow Jones swung wildly on Thursday, as the US-China trade war once again took center stage in the wake of the bond market’s first main yield curve inversion in more than a decade.
Dow Zips Higher Despite Ugly Futures Session
Wall Street’s major indices recovered from steep losses in the futures market to post bullish advances. The Dow Jones Industrial Average took the first step in recovering from Wednesday’s devastating 800-point plunge, rising 111.13 points or 0.44% to 25,590.55.
The S&P 500 edged 10.92 points or 0.38% higher to 2,851.52. Consumer staples led the recovery with a 1.09% advance.
The Nasdaq rounded out a positive morning session with a gain of 25.19 points or 0.32% to 7,799.13.
China to Trump: Meet Us ‘Half-Way’
Dow Jones futures had pointed to another ugly loss, but the market jerked higher at approximately 7 am ET.
One primary driver was a positive development in US-China trade relations, which had quickly grown frosty following their resumption late last month.
On Thursday, Chinese foreign ministry spokesperson Hua Chunying said that Beijing is eager to meet the United States “half-way” on longstanding sticking points so that the world’s two largest economies can arrive at “mutually acceptable solutions” rather than engage in a market-rattling trade war tit-for-tat.