NEW YORK, April 9 (Xinhua) -- U.S. stocks traded higher on Monday after U.S. President Donald Trump appeared to soften his tone on China-U.S. trade relations.
At midday, the Dow Jones Industrial Average gained 313.74 points, or 1.31 percent, to 24,246.50. The S&P 500 added 37.37 points, or 1.43 percent, to 2,641.84. The Nasdaq Composite Index was up 128.26 points, or 1.85 percent, to 7,043.37.
U.S. Treasury Secretary Steven Mnuchin said on Sunday that he does not expect a trade war between the United States and China to take place, according to media reports.
Analysts said the upbeat comments from the Trump administration helped lift market sentiment on Monday.
Investors have been on edge for some time amid escalating trade tensions between China and the United States.
Trump said on Thursday he had asked the U.S. Trade Representative to consider slapping additional tariffs on 100 billion U.S. dollars' worth of Chinese imports, ratcheting up trade worries and plunging economic growth into uncertainty.
In response, a spokesperson with the Chinese Ministry of Commerce said Friday that China will fight "at any cost" and take "comprehensive countermeasures" if the United States continues its unilateral, protectionist practices.
The moves came after both sides unveiled earlier a list of products worth 50 billion dollars imported from the other that will be subjected to higher tariffs.
U.S. stocks closed sharply lower in the previous session, with the Dow plunging 2.34 percent, the S&P 500 erasing 2.19 percent and the Nasdaq losing 2.28 percent, respectively. Enditem
