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Stocks rebounded but investors remained in a cautious mood
US stocks rebounded Thursday as a series of positive earnings and waning trade jitters girded investor confidence. The Dow Jones industrials were up 1.6 percent, the S&P added 0.8 percent and the Nasdaq climbed 0.4 percent. US stocks and emerging market currencies rebounded on Thursday after China said it will hold trade talks with the United States later in August and Turkey’s lira continued its recovery. China said that a delegation led by its vice commerce minister would travel to the United States for talks on August 21 and 22, raising hopes that Beijing and Washington may resolve the escalating tariff war that has roiled financial markets since early March.
Stock indices reversed direction after Tuesday’s rally
US shares retreated Wednesday on concerns over a strengthening dollar, Turkey's currency crisis and global trade tensions. Shares of materials companies were hit by the strengthening dollar. Trade tensions heated up as Turkish President Erdogan doubled tariffs on some US imports while China lodged a complaint against American trade policies with the World Trade Organization. The Dow Jones industrials were down 0.5 percent, the S&P dropped 0.8 percent and the Nasdaq was 1.2 percent lower.