US stocks rise as Trump announces trade deal with UK
Wall Street's main indexes opened higher on Thursday on news that the United States was on the verge of signing a trade agreement with Britain, while chip stocks added to gains on the prospect of fewer export curbs on AI semiconductors.
By Reuters | Updated:
AP
Wall Street stocks climbed early Thursday after a White House announcement of a trade deal with Britain lifted hopes about additional accords.
US President Donald Trump announced a "full and comprehensive" trade agreement with Britain, while vowing other deals would follow. The president did not release details about the accord with Britain.
The Dow Jones Industrial Average rose 198.6 points, or 0.48%, at the open to 41,312.57. The S&P 500 rose 32.3 points, or 0.57%, at the open to 5,663.6, while the Nasdaq Composite rose 182.0 points, or 1.03%, to 17,920.154 at the opening bell.
Investors have been eager for resolution on trade after a series of Trump tariff announcements have prompted massive gyrations in financial markets.
"We have positive news from the trade front," said Adam Sarhan of 50 Park Investments. "If we start reaching more deals that can easily help the market rally from here."
Chip stocks added to gains on the prospect of fewer export curbs on AI semiconductors.
US President Donald Trump announced a "full and comprehensive" trade agreement with Britain, while vowing other deals would follow. The president did not release details about the accord with Britain.
The Dow Jones Industrial Average rose 198.6 points, or 0.48%, at the open to 41,312.57. The S&P 500 rose 32.3 points, or 0.57%, at the open to 5,663.6, while the Nasdaq Composite rose 182.0 points, or 1.03%, to 17,920.154 at the opening bell.
Investors have been eager for resolution on trade after a series of Trump tariff announcements have prompted massive gyrations in financial markets.
"We have positive news from the trade front," said Adam Sarhan of 50 Park Investments. "If we start reaching more deals that can easily help the market rally from here."
Chip stocks added to gains on the prospect of fewer export curbs on AI semiconductors.
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