While you were sleeping: Wall St rallies as US puts 'trade war on hold'

Mon, 21 May 2018

By Margreet Dietz May 22 (BusinessDesk) - Wall Street rallied amid optimism that the US is backing off its recent protectionist stance in an effort to resolve an international trade dispute with China. The rally comes a day after US Treasury Secretary Steven Mnuchin said that “we are putting the trade war on hold,” bolstering the outlook for US equities. “I suspect that we’ll continue to trend higher sans some major disappointing news,” Gordon Charlop, managing director at Rosenblatt Securities in New York, told Reuters. “This is...

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