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Global stocks are surging after Trump cancels Mexico tariffs

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., June 4, 2019. REUTERS/Brendan McDermid

  • President Trump’s cancellation of planned tariffs on Mexican imports tempered fears of another trade war, sending Asian and European stocks and US futures higher on Monday.
  • “Whilst this is positive for risk assets, one should be cautious that this may only embolden Mr Trump to use tariffs as a policy tool for the pursuit of non-economic interests,” said one analyst.
  • Investors’ appetite for risk was also boosted by a weak US jobs report, which fueled anticipation of cuts to interest rates by the Federal Reserve.
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Source:: BusinessInsider.Com