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8 Tuesday, June 18, 2019 21:30

Stocks Jump as Trump Says He Will Meet With China's Xi at G-20 Summit

Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average climbed after President Donald Trump announced via Twitter that he and Chinas President Xi Jinping will be having an extended meeting next week at the G-20 in Japan. Facebook shares climbed as investors reacted to details of its Libra cryptocurrency plans revealed by its backers in a published white paper.

Facebook is Real Moneys Stock of the Day. MoneyGram International climbed after blockchain startup Ripple said it plans to invest up to $50 million in the company. Wall Street Overview Stocks were rising on Tuesday after President Donald Trump announced that he and Chinas President Xi Jinping will be having an extended meeting next week at the G-20 in Japan.

Trump said in a tweet that he had a very good telephone conversation with President Xi of China. We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting. China state media, without providing details, said the two leaders spoke on the phone, according to Reuters.

 China previously has balked at the prospect of meeting with Trump at the summit. CNBC reported that China confirms a meeting at G-20. The worlds two largest economies have been locked in a trade war and Trump has threatened to impose tariffs on $300 billion more in Chinese imports. The G-20 meeting will be held in Osaka, Japan, on June 28-29.

The Dow Jones Industrial Average rose 400 points, or 1.5%, to 26,513, the S&P 500 climbed 1.36%, and the Nasdaq advanced 2.01%. Meanwhile, European Central Bank President Mario Draghi laid the foundation for a potential re-opening of the banks controversial quantitative easing program Tuesday, telling a conference in Portugal that it has room to buy more bonds in order to stoke inflation in the currency area just hours ahead of the Federal Reserves own two-day rate-setting meeting begins in Washington.

Facebook shares climbed 1.2% to $191.24 as investors reacted to details of its Libra cryptocurrency plans revealed by its backers in a published white paper. Facebook is Real Moneys Stock of the Day. Will Facebooks New Crypto Venture Kill Bitcoin or Fuel the Fire? Shares of MoneyGram International  soared 107.

2% to $3 after blockchain startup Ripple said it plans to invest up to $50 million in the company.   Snap  shares rose 7.6% to $14.57 following a pair of analyst upgrades for the instant messaging app maker from Aegis Capital and BTIG.    Boeing shares rose 2.6% to $364.17 after the troubled aerospace company announced a $6.

3 billion Dreamliner order from Korean Air. In addition, Amazon  said it will lease an additional 15 cargo airplanes from Boeing, through a deal with General Electrics  aviation unit. Jim Cramer: If You Believe in Boeing, Buy This Stock In economic news, U.S. new-home construction slowed less than expected in May, a sign that a recent decrease in 30-year mortgage rates might be making housing more affordable, especially.

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News Code: 197741  |  TheStreet.com
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