AM Report 7 June 18: Banks lead the markets higher and trade concerns eased

US sharemarkets posted solid gains on Wednesday on hopes for an easing of trade tensions. There were reports that US officials were weighing an offer by China to import an extra US$70 billion of American goods over a year. Banks rose in response to higher interest rates in both the US and Europe. The Dow Jones finished higher by 346 points or 1.4%. The S&P 500 index rose by 0.9% and the Nasdaq index gained 51 points or 0.7% to fresh record highs

 

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