As shares of the leading banks, JP Morgan and Goldman went higher, the Dow futures also went 150 points up on the board.
The banking sector has gained profits due to the higher interest rates. The shares of banks like Goldman Sachs, Bank of America, and Morgan Stanley advanced more than 2.5 percent while Citigroup shares were 3.3 percent up. Goldman Sachs remains the best performing one in terms of the index.
Dow Jones Industrial closed at 26,405.76 advancing in 158.80 points whereas S&P 500 traded up by 0.13 percent at 2,907.95. On the other hand, Nasdaq slipped in 0.08 percent with others like Netflix, Amazon, and Apple. The tech index shut at 7,950.04.
The markets were not affected as bad as was predicted due to the trade conflicts between the two largest economies. The U.S. administration has imposed tariffs on Chinese imports worth of $200 billion and in turn, China has done the same regarding the U.S. products by imposing 10 percent tariff.
The shares, Caterpillar and Boeing, climbed up 2.5 and 0.5 percent respectively. The stocks of Asia markets also rose up where Japanese and Chinese remained higher on the list. The composite index of Nikkei 225 and Shanghai traded 1.1 percent up.
It is clear that markets are completely ignoring the trade tensions going on between the two countries and continuing to perform well on the board. The investors do not fear anymore about the trade war going on between China and the United States.
Due to the increase in shares of the banking sector, the Dow Jones Industrial went 150 points up higher of this month whereas S&P 500 gained more than 8.5 percent in this year, which is 1 percent lower than its highest record.