AM Report 17 Aug 18: Global rebound on possible China US trade talks

 US sharemarkets rebounded on Thursday. China's Vice Commerce Minister Wang Shouwen is expected in Washington for talks on August 22-23 in a bid to resolve trade tensions. Shares of industrial bellwethers Boeing (+4.3%) and Caterpillar (+3.2%) rose. Walmart shares rose by 9.3% after it topped earnings estimates and posted its best same-store sales growth in a decade. Cisco (+3.0%) also beat market earnings expectations, boosted by income from its cyber security and application segments. The Dow Jones index rose by 396 points or 1.6%, the biggest one day gain since April 10. The S&P 500 index rose by 0.8% and the Nasdaq lifted by 32 points or 0.4%.

 

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