AM Report 26 Jul 18: Trade talks rally stocks at the close

US sharemarkets rose sharply in late trade on Wednesday with the Dow Jones news agency reporting that the European Union (EU) had agreed to ease industrial tariffs. The news reports also indicated that the EU had agreed to import more soybeans from the US. The Dow Jones index rallied as much as 190 points and ended higher by 172 points or 0.7%. Almost all the gains were recorded in the last 20 minutes of trade. The S&P 500 index rose by 0.9% and the Nasdaq index gained 91.5 points or 1.2%.

 

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