According to US Trump Administration, China has agreed to cut tariffs on the US built autos and auto parts to 15 % from the current 40 % level. This news helped to heal the US stock markets and for example the automotive shares gained because of this.
The markets are also expecting that the wider trade talks between the US and China seem now a little easier for both parties. The countries agreed in the G20 meeting in Argentina to postpone the tariffs by 90 days.
Dow Jones ended down 0,22 % to 2437 points, S&P 500 -index ended down 0,04 % to 2636 points, but the Nasdaq-index ended up 0,16 % to 7031 points. In Europe the UK FTSE 100 -index ended up 1,51 % to 6835 points, the German DAX-index ended up 1,49 % to 10780 points and the CAC40 in Paris ended up 1,35 % to 4806 points.
The euro was trading flat at 1,13 dollars. The sterling gained slightly 0,01 % and was trading at 1,248 dollars.
The UK – EU Brexit situation is expected to gain some new input on Thursday and Friday, when the EU meeting in taking place. In the meanwhile UK Prime Minister Theresa May have had discussions with different country leaders about the Irish border issue and resassurances. Today she met the German Chancellor Angela Merkel in Berlin.
Many EU leaders have said that they want to help the UK to reach the Brexit deal in order to avoid the situation that there is no deal at all. The Bank of England has made analysis of the hard-case and the economic impact would be very difficult for the UK trade and economy.