Wall Street

Stocks Rally On Biden’s Tariff Comment

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ValueWalk

OANDA – Stocks rally on Biden’s tariff comment, Euro rallies on Lagarde Hawkishness, Oil choppy, Gold rallies, Bitcoin struggles US stocks are rallying over optimism that President Biden could be positioning for a major de-escalation in the US-China trade war and over selling exhaustion. After eight weeks of selling pressure for the Dow and a seven-week losing streak for both the S&P 500 and Nasdaq, a rebound was long overdue. Many are rationalizing today’s rebound with the logic that much more downside would only be warranted if a recession was likely to happen early next year and that won’t …

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