Stocks Rally Third Day as Trump Team Eases Stance

Gold Silver Reports (GSR) – Stocks Rally Third Day as Trump Team Eases Stance — The S&P 500 Index bounced back from Monday’s selloff as investors grew more confident the administration’s protectionist rhetoric wouldn’t result in equally stringent policy. The rally took stocks to a two-week high. The dollar strengthened for the third time this week, while the 10-year Treasury yield popped above 2.82 percent.                         

“After the initial introduction of trade tensions and the back and forth between the U.S. and China and consternation around Nafta, the markets are now beginning to see through the bluster of negotiations and they’re dialing back some of their most significant fears of a full on trade war,” Kevin Caron, a senior portfolio manager at Washington Crossing Advisors, said by phone.

Stocks regained a measure of poise after representatives from the U.S. and China left the door open for a negotiated solution to avoid tariff proposals that aren’t set to take effect for several months. Federal Reserve officials said it’s premature to fully assess the impact of the trade dispute, which is adding uncertainty to an otherwise bright economic outlook ahead of Friday’s jobs report.

European equities caught up to the American rebound, surging the most in two months as every sector rallied. The pound fell after purchasing managers’ data for February disappointed. Asia’s major stock gauges all rose, although markets in China and Hong Kong were closed for holidays.

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Meanwhile, Facebook Inc. climbed as traders took in stride a company disclosure that data on most of its 2 billion users could have been harvested improperly by third parties. Investors are cautiously returning to technology shares after a selloff last month gave momentum to a global equity correction.

Elsewhere, Australia’s dollar led declines against the greenback after the country’s money-market rate fell for the first time in almost two months. Oil reversed a gain and Bitcoin held below $7,000. – Neal Bhai Reports (NBR)

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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