Stocks rise as Trump cushions Syria threat

by Sunday News Online | Sunday, Apr 15, 2018 | 1529 views
Donald Trump

Donald Trump

New York — Global stock markets rose on Thursday after US President Donald Trump appeared to take some of the sting out of threats to hit Syria with missiles.

While the situation on Syria remained fluid — with the US president expected to confer with Britain and France later on Thursday on possible retaliation — investors welcomed a statement on Twitter from the US president that suggested he might hold off on an imminent strike.

US and European markets had fallen on Wednesday on worries about US action on Syria, following a more bellicose tweet.

“A tweet-turnaround from Trump . . . was the main driver of growth, lifting the majority of the markets out of the red and into the green,” said Spreadex analyst Connor Campbell.

Other factors in the rally included optimism over the upcoming corporate earnings season and signals the US president will consider rejoining a major Pacific trade pact.

US stocks finished solidly higher, with the Dow Jones Industrial Average climbing 1,2 percent.

Frankfurt closed with a gain of 1,0 percent, while Paris won 0,6 percent.

Investors welcomed Trump’s statement on Syria before US trading opened, after he seemed to suggest the prior day that bombs could drop at any minute.

“Never said when an attack on Syria would take place,” Trump tweeted early on Thursday. “Could be very soon or not so soon at all!”

“The president’s tweet seemed to help ease fears regarding the situation in Syria — or, at the very least, temporarily put it out of investors’ minds,” Briefing.com analyst Patrick O’Hare said.

Analysts also were encouraged that Trump was working more closely with US allies on Syria. — news24

>
Like it? Share it!