US stocks rallied after President Donald Trump indicated that trade talks with the EU were progressing in a “positive” direction, a day after agreeing to delay his threatened 50 per cent levies on the bloc.
The S&P 500 closed 2.1 per cent higher on Tuesday, with economically sensitive consumer cyclicals and tech companies among the biggest winners. All 11 of the benchmark index’s sectors ended the session in positive territory.
The tech-heavy Nasdaq Composite added 2.5 per cent. In currency markets, the dollar index rose 0.4 per cent.
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