Wall Street Gains as U.S.-UK Trade Deal Fuels Global Market Optimism
Global equities rose as the U.S. and UK announced a trade deal, igniting optimism for future agreements. Wall Street indices and cryptocurrencies surged, while Treasury yields and the dollar also gained. Investors are hopeful ahead of U.S.-China trade talks, as sectors like oil and gold reacted positively.
Global markets experienced a lift on Thursday, spurred by a newly announced trade deal between the United States and the United Kingdom. Wall Street led the pack, showing robust performances across its major indices.
The signing of the U.S.-UK trade pact was greeted with enthusiasm, marking the first agreement in a month since U.S. President Donald Trump announced a temporary halt on trade tariffs. The deal reduces U.S. duties on UK car exports and sees Britain lower its tariffs from 5.1% to 1.8% on imported goods from the U.S., promising broader market access.
This optimistic news spread to the cryptocurrency market and invigorated other sectors, as investors anticipate upcoming discussions between the U.S. and China to alleviate current tensions. The positive market sentiment was further reflected in Treasury yields and a stronger U.S. dollar.
(With inputs from agencies.)
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