Rally goes on as China cuts U.S. tariffs

Fresh records on Wall Street are set to continue after China said it would halve tariffs on $75B of U.S. imports as part of its efforts to implement a recently signed ‘phase one’ trade deal.

The tariff relief adds to hopes the global economy may be able to avoid a major shock from China’s rapidly-spreading coronavirus, with DJIA futures pointing to opening gains of 200 points after soaring nearly 500 points on Wednesday.

The gains weren’t limited to the U.S. The overnight session in Asia saw the Nikkei rise 2.4%, Shanghai advance 1.7% and Hang Seng climb 2.4%, while Europe opened in the green with the Euro Stoxx 50 up 0.6%.

ETFs: FXI, KWEB, CQQQ, ASHR, YINN, MCHI, TDF, EWH, KBA, CAF, YANG, GXC, TAO, CYB, CHIQ, CHIX

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