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Home / World / Shares rise in the wake of US-Chinese trade optimism

Shares rise in the wake of US-Chinese trade optimism



  Dealers and financial professionals work on the floor of the New York Stock Exchange (NYSE) before the opening bell on January 4, 2019 in New York City.

Drew Angerer | Getty Images

Before the opening bell on January 4, 2019 in New York City, traders and financial professionals work on the floor of the New York Stock Exchange (NYSE).

US. and Chinese officials will continue their trade talks this week focusing on intellectual property. "The United States is a major producer of technology and innovation, as well as know-how and trade secrets, and we need to operate in an environment that protects these things," said US Commerce Representative Robert Lighthizer last week.

"[We] expect a trade agreement between the US and China by the end of this month," wrote Ed Yardeni, president and chief investment strategist of Yardeni Research. "The Chinese urgently need a deal to appease Trump's call for fairer trade so that he can not impose another customs round on US imports from China."

The trade negotiations come from slowed economic data from China. China's lunar new year's expenditure growth fell to its lowest level since 2005. Last month, the Chinese government showed that the country's economy has been growing so slowly in 28 years.

The focus is also on a possible second government shutdown that Democrats and Republicans are arguing over border policy. Trump has tweeted this weekend: "I really think they (Democrats) want a shutdown."

Tesla shares rose more than 2 percent after a Canaccord Genuity analyst topped up to buy from Hold. The analyst raised his price target from $ 450 to $ 450 per share, up 47 percent over the next 12 months.

-CNBCs
Silvia Amaro
contributed to this report.


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