The ASX is in recovery mode as the U.S. is postponing imposing more tariffs on China, deescalating trade war tensions for now.
The ASX 200 is up 0.32 per cent today, and the All Ords is up 0.34 per cent.
Most industries are in the green on the Aussie market today, including tech, health care and consumer discretionary.
However, communications, consumer staples and finance stocks as an industry are down.
Mining giants Rio Tinto and BHP’s share prices are on the rise today, rising 3.33 per cent and 1.14 per cent, respectively.
Out of the big four banks, Commonwealth is down this morning, ANZ is unchanged from yesterday’s close, and NAB and Westpac are in the green.
Biotech company CSL is making big moves after informing the market its profits are up to $2.8 billion. CSL’s share price is up 5.81 per cent, currently sitting at 232.25 per share.
The easing trade tensions saw big jumps on Wall Street. The Dow Jones is up 372.54 points, Nasdaq is up 152.95 points and the S&P 500 closed 42.57 points up.
European markets responded similarly to having the pressure valve relieved. DAX climbed 0.60 per cent and Stoxx 600 is up 0.54 per cent.
Over in Asia, the Nikkei, Hang Seng and Asia Dow are also trading at a high, giving hope that trade disputes between the U.S. and China may eventually come to an end.
Gold prices have taken a hit of 0.44 per cent and oil is down 0.95 per cent.
The Aussie dollar is down 0.15 per cent against the USD, sitting below US$0.68. Against the Euro, the AUD is down 0.18 per cent at $1.00 to €0.61, and to the Pound sterling is £0.56 to the dollar.