U.S. stocks are rising Thursday after President Donald Trump said he was set to announce an agreement on trade with the United Kingdom, the first of what Wall Street hopes will be enough to keep a recession from hitting the economy.
The S&P 500 was 0.6% higher in early trading and on track for an 11th gain in the last 13 days. The Dow Jones Industrial Average was up 253 points, or 0.6%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.9% higher.
Stocks have been swinging for weeks with hopes that Trump could reach deals with other countries that would lower his tariffs, which many investors believe would cause a recession if left unchecked. Trump said Thursday that the U.K. agreement, which is set to be announced at 10 a.m. Eastern, is “a full and comprehensive one.”
“Many other deals, which are in serious stages of negotiation, to follow!” he added on his Truth Social account.
It could be an encouraging start, and analysts said they’re curious to see if it will affect the 10% tariffs that Trump placed on all imports coming into the United States on “Liberation Day.” But bigger trading partners could offer bigger hurdles, including China.
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Author: Dillon B
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