AM Report 27 Mar 18: Trade war thaws, DOW best day since August 2015

US sharemarkets rebounded as trade tensions between the US and China appeared to ease. Reports that China had offered to buy more semiconductors from the US to help cut its trade surplus with the US boosted trader optimism. The US has also reportedly asked China to slash tariffs on US autos and provide greater access to the Chinese financial sector. Shares of Microsoft (+7.6%) and Intel (+6.3%) both rose on broker upgrades. At the close of trade, the Dow Jones index rose by 669 points or 2.8% - the 3rd biggest point gain on record. The S&P 500 index rose by 2.7%. And the Nasdaq rose by 227 points or 3.3%.

 

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