Dollar, global shares gain as trade worries linger - 92 News HD Plus

NEW YORK – The dollar gained and global equity markets rose on Friday on upbeat US economic data while amicable messages from Chinese President Xi Jinping and US President Donald Trump helped ease recent tensions over the prolonged US-Sino trade war.

Trump reciprocated, saying a trade deal with China is “potentially very close” and that he stands with both the people of Hong Kong and Xi amid massive protests in the former British colony. The Nasdaq was weighed down by a 5.94% slump in shares of Tesla Inc as its electric pickup truck design received an underwhelming response.

The data was a sign of the continued resilience of the US economy in the face of the trade dispute and other headwinds. IHS Markit’s final Purchasing Managers’ index readings also showed German business conditions continued to wane in November, although at a reduced pace. “There’s skepticism about what Trump says, especially with more US tariffs set to kick in on Dec. 15, said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont.

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