American markets were excited Thursday, treating the resumption of US-China trade talks like Superbowl Sunday. New York markets surged by nearly 1% by lunchtime, but closed around 0.60%. Chinese internet company, Baidu, benefited from the promising trade news, rising 3.95% and erasing losses of earlier this week. Pundits are speculating that both countries will reach a “mini-deal,” so investors should keep a close eye on negotiations in the coming days. Also, earnings season begins next week with the big American banks reporting.
Unrelated to the trade news was Bed, Bath & Beyond which just recruited a new CEO from Target, Mark Tritton. Investors are betting on Tritton working his magic on the battered bedding retailer. Their hopes propelled BBY-Q stock by 21.58% to $2.15. The TSX also gained on Thursday with energy stocks like Just Energy bouncing 7.46% upon news of selling its UK operation to Shell for $17 million that’ll improve its liquidity. NexGen jumped 8.82% upon news of high-grade drilling results of phase one of in the Athabasca region.