Market Update:
U.S. stocks rose for the first time in six days, with beaten-down technology shares leading the rebound on speculation trade tensions will ease. The Dow Jones added 0.8% to 25289 whilst the S&P 500 gained 1.1% to 2730; The U.S. plans to raise tariffs on Chinese imports in January of 2019, with president Donald Trump and China’s Xi Jinping likely at best to agree on a “framework” for further talks to resolve trade tensions at an upcoming meeting; Zinc rose to the highest level in two weeks as demand continues to outstrip production and inventories tracked by the LME sank to the lowest levels in a decade. Oil prices rose slightly as tension over U.S. sanctions against Saudi Arabia countered a jump in American crude stockpiles; UK Prime Minister, Theresa May has won the support from her cabinet for the U.K. and European Union to agree on the draft Brexit treaty; Gold prices are drawing support from a rebound in demand for exchange-traded funds backed by gold, countering a strong dollar and rising U.S. interest rates. The US gold price increased 0.2% to 1213.0 US$/oz.
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