Stocks Rally on G20 Trade Optimism as ISM Factory Index Slips Further
On Saturday, the U.S. and China agreed to restart talks that have been stalled since early May. President Trump promised to freeze existing tariffs at current levels and not to impose new tariffs on an additional $300 billion in Chinese imports. The U.S. also agreed to allow Chinese tech giant Huawei Technologies to buy U.S. made microchips. China in turn promised to buy more U.S. agricultural products. The markets breathed a collective sigh of relief.