The Dow Jones futures had a surprising turn of events today as the market jumped a 100 points on the back of Donald Trump’s comments on the US-China trade tariff deals. At the same time, Bitcoin [BTC] and the rest of the cryptocurrency market has been enjoying a bullish turn of events with a majority of the cryptocurrencies rising on the charts.
The Dow Jones Industrial Average futures market started the day with a 0.4 percent hike that allowed the commodity to rise 101 points. At the same time, the S&P 500 futures gained 0.32 percent while the Nasdaq futures rose by 0.44 percent.
Analysts attribute the spike to Donald Trump’s decision to actually carry forward the meeting with Chinese premier Xi Jinping. Some reports also suggest that the long-awaited meeting between the two heads of state will take place at the US President’s Mar-a-Lago resort, probably by next month.
This is the same market that dropped a few points all because of Trump’s earlier comment about pulling out of the meet. The fall had also caused people on social media to erupt. Ollie Richardson, a Twitterati had stated:
“Looking at the Dow Jones, it’s as if the banking cartel deliberately ramps up the index above 25,000 after 3PM to keep the debt bubble inflating and inflating….”
The US and China have reportedly failed to even produce a draft agreement that outlines specific areas of common interest, an important step in striking a deal. With the renewed interest in the meetup, the Dow Jones market has certainly been given a boost. On the flipside, the cryptocurrency market saw Litecoin emerge as the surprising winner. Nigel Green, the Chief Executive Officer at financial consultancy deVere Group stated:
“t was a relatively sudden jump, and, of course, positive news for those holding Bitcoin. However, the price only reached the top of the trading range and investors should not be popping champagne corks just yet.”