Positive trade signals fuel Wall Street's rally

World stocks rose across the board on October 20, after conciliatory comments from US President Donald Trump helped ease concerns about trade tensions with China.

Traders at the New York Stock Exchange, USA. Photo: THX/TTXVN

At the end of this session in New York, the Dow Jones industrial index increased 1.1% to 46,706.58 points. The S&P 500 index also increased 1.1% to 6,735.13 points and the Nasdaq Composite technology index increased 1.4% to 22,990.54 points.

Similarly in Europe, major indices also rose simultaneously. Specifically, the FTSE 100 index in London (UK) increased 0.5% to 9,403.57 points at closing. The CAC 40 index in Paris (France) increased 0.4% to 8,206.07 points and the DAX index in Frankfurt (Germany) added 1.8% to 24,258.80 points.

The main factor driving market sentiment was Mr Trump's softening of his tone towards China after threatening steep tariffs earlier this month. The US president expressed optimism ahead of his meeting with his counterpart Xi Jinping later this month at the Asia- Pacific Economic Cooperation (APEC) summit in South Korea. Mr Trump said his priority was to reach a "fair" trade deal with China.

Most stock markets started the week on a positive note, with traders reacting positively to Trump’s apparent softening of his rhetoric on rekindling the trade war between the US and China, said David Morrison, senior market analyst at financial services firm Trade Nation.

A rally in tech stocks led by Apple also helped the market advance. Apple shares jumped nearly 4% to $262.24 after a report from market research firm Counterpoint showed that sales of the tech giant’s latest iPhones far outpaced those of the previous generation.

Meanwhile, a global outage hit Amazon's cloud services for several hours on October 20, impacting its online services and many other companies and organizations. However, this did not affect Amazon's stock price, which ended the session up 1.6% to $216.48.

In the domestic market, at the end of the trading session on October 20, the VN-Index decreased by 94.76 points (5.47%) to 1,636.43 points. The HNX-Index decreased by 13.09 points (4.74%) to 263.02 points.

Source: https://baotintuc.vn/thi-truong-tien-te/tin-hieu-thuong-mai-tich-cuc-tiep-lua-cho-da-tang-cua-pho-wall-20251021074604118.htm