US stocks posted a third straight week of gains on reduced fears over U.S./China trade. The S&P 500 was up 1.0% and the Dow gained 1.6% for the week. Abroad, Japan surged 3.7% and Europe rose 1.2% for the week. The 10-year Treasury yields continued to rise as investors grew less pessimistic about US growth prospects. The yield finished the week at 1.90%, up from 1.55% at the end of the previous week, the largest one-week yield gain in over 6 years.
The ECB cut its benchmark interest rate by 0.1% to -0.5% and launched a new bond-buying package of $22 billion a month of eurozone debt that is expected to “run for as long as necessary.” It’s the largest simulative move the central bank has made in three and a half years.
Trump announced the US would delay by two weeks tariffs set to begin 10/1 on $250 billion of Chinese imports.
China will exempt certain agricultural products from tariffs.