Dow rejoice on U.S-China trade talk truce

U.S stock boosted sharply after the positive trade talk between U.S and China. Over the weekend, Treasury Secretary Steven Mnuchin called for a truce and cited the administration will put to hold implementation of tariff while pursuing deal between both countries.

At the end of previous week. China agreed to purchase more U.S goods to narrow trade gap but deny the target of $200 billion deficit. At the current time, Dow Jones Industrial Averages up 285.95 points (+1.16%), Nasdaq composite up 28.64 points (+0.39%), S&P 500 up 18.58 points (+0.68%).

Earnings and corporate report

General Electric (NYSE: GE) rally more than 3% after the company announces the future merger of its transportation unit with Wabtec Corp (NYSE: WAB). The merger deal valued $11.1 billion. At the close of the deal, WAB will pay GE $2.9 for part of ownership, and GE shareholders will receive a 50.1% ownership interest in the combined company.

Tesla Inc (NASDAQ: TSLA) jumped 5% after the twit from Elon Musk. The CEO twit about model 3 followed by a strong forecast by Berenberg analyst. The analyst raises TSLA stock price target from $470 to $500

Other markets

Gold slipped $1.00 (-0.08%) to $1,290.30. Crude oil added $0.89 (+1.25%) to $72.17 on fear U.S will impose a sanction on Venezuela.

Asian stock market closed mostly higher. Nikkei up 72.01 points (+0.31%) to 23,002.37, Shanghai Composite up 21.06 points (+0.66%) to 3,214.36, Australia ASX 200 down 2.90 points (-0.05%) to 6,084.50.

European stock market also follows a higher path. DAX Germany closed for holiday, FTSE UK up 80.38 points (+1.03%) to 7,859.17, and Euro STOXX 600 up 1.20 points (+0.30%) to 395.87