US, global stocks gain on trade hopes, risk appetite lifts US$

On Wall Street, the Dow Jones Industrial Average rose 114.75 points, or 0.42%, to 27,462.11. The S&P 500 gained 11.36 points, or 0.37%, to 3,078.27 and the Nasdaq Composite added 46.80 points, or 0.56%, to 8,433.20.

NEW YORK: The dollar strengthened and global stock markets rallied on Monday on signs the United States and China are nearing the end of a damaging trade war as well as indications the world economy may dodge a recession.

The three major U.S. stock indexes closed at fresh record highs and MSCI's gauge of equity performance across the globe rose to less than 2% from an all-time peak set in January 2018.