This morning, investors continued to show optimism about the U.S.-China trade deal, and decisive results from the UK election also seem to be helping sentiment
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In U.S. economic news, November retail sales increased less than expected, casting some doubt on a segment of the economy that has been a source of optimism for investors. Retail sales for the month rose 0.2%, less than the 0.5% expected in a Briefing.com consensus.High hopes for a trade deal were the driving force behind a stock market rally on Thursday, when all of the three main U.S.
With the reported deal agreed in principle, those duties wouldn’t take effect and the U.S. could reduce existing levies by half while China would buy more U.S. farm products, representing a big step toward ending the trade war between the world’s two largest economies that has hampered corporate decision making, weighed on global economic growth projections, and been the biggest headwind facing Wall Street for more than 17 months.
In the same vein, gold prices pulled back as the safe-haven metal lost some of its allure amid the risk-on mood on Wall Street. And Wall Street’s main fear gauge, the Cboe Volatility Index also pointed to an increase in risk appetite, falling 7%.
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