Money: Dow jumps 400 points, led by Apple, as U.S. removing some items from China tariff list - PressFrom - Canada
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MoneyDow jumps 400 points, led by Apple, as U.S. removing some items from China tariff list

17:31  13 august  2019
17:31  13 august  2019 Source:   cnbc.com

U.S. removes some Chinese furniture, modems from planned 10% tariffs

U.S. removes some Chinese furniture, modems from planned 10% tariffs U.S. removes some Chinese furniture, modems from planned 10% tariffs

US removes some items from China tariff list , delaying tariffs for others, including cell phones. The United States Trade Representative office said Tuesday certain items were being removed from the new Dow jumps 400 points led by Apple as US removes some items from China tariff list .

USTR removes some items from list of new China tariffs . The products in the group that will have tariffs delayed include "cell phones Hasbro told CNBC earlier this month that it would have "no choice but to pass along the increased costs to our U . S . customers " if the tariffs were put into place.

Stocks rose for the first day in three sessions on Tuesday after the U.S. removed some items from list of new China tariffs and the additional duty on other goods is postponed to Dec. 15.

Dow Jones Industrial Average jumped 400 points, while the S&P 500 rose 1.4% and the Nasdaq Composite was 1.8% higher, led by Apple which surged more than 5%.

The United States Trade Representative announced Tuesday certain products are being removed from the tariff list based on “health, safety, national security and other factors” and will not face additional tariffs of 10%. The tariff should be delayed to Dec. 15 from Sep. 1 for certain articles, it said.

Beijing responds to Trump's new $300 billion tariff threat

Beijing responds to Trump's new $300 billion tariff threat President Donald Trump has announced tariffs on the roughly $300 billion of Chinese goods that had not been targeted by American levies. The charge will take effect from September 1. The move breaks a truce in the long-running trade war between Washington and Beijing, with investors fearful it could further disrupt global supply chains. The tariff threat also came as a surprise to financial markets, in large part because negotiators for the two sides had just met earlier this week in China. The Dow Jones Industrial Average closed 280.85 points lower at 26,583.

The Dow is down more than 700 points and the S &P 500 has lost around 3.6 percent this week after Trump threatened to raise tariffs on more Liu He, China ' s vice premier and top trade negotiator, will dine with U . S . Trade Representative Robert Lighthizer and other U . S . officials Thursday evening in

The Dow Jones Industrial Average surged nearly 400 points and was on pace for the best trading day in four months. The visit was at the invitation of the U . S ., the Chinese Commerce Ministry said. The group led by a deputy commerce minister will visit in late August to discuss "issues of mutual concern

Traders also looked past the bond market’s recession signal. The widely watched 2-year to 10-year yield spread narrowed to just 1.5 basis points on Tuesday, according to FactSet, with the curve at its flattest level since 2007. A yield-curve inversion has been a reliable recession indicator watched by the Federal Reserve as well as many market experts.

The Labor Department’s consumer price index report showed inflation came in as expected last month. The yield curve continued to narrow after the report.

The Dow slumped nearly 400 points on Monday to fall back below 26,000, while the benchmark 10-year Treasury yield dipped to 1.63%. The market seems to be tracking bond yields lower.

Despite concerns about the yield-curve inversion, history shows stocks have another year-and-a-half to run typically before doom hits, based on data going back to 1978, according to Credit Suisse. Data show a recession comes in about 22 months on average after the curve inverts.

Stocks tumble after bond market flashes recession warning

Stocks tumble after bond market flashes recession warning Stocks fell sharply Wednesday, giving back Tuesday’s solid gains, after the U.S. bond market flashed a troubling signal about the U.S. economy. The Dow was down more than 500 points, while the S&P 500 slumped 2% and the Nasdaq sank 2.2%. The yield on the benchmark 10-year Treasury note Wednesday broke below the 2-year rate, an odd bond market phenomenon that has been a reliable indicator for economic recessions. Investors, worried about the state of the economy, rushed to long-term safe haven assets, pushing the yield on the benchmark 30-year Treasury bond to a new record low on Wednesday.

The Dow Jones Industrial Average gained more than 400 points Tuesday as U . S . stocks surged thanks to a less-aggressive stance on trade taken by Chinese President Xi Jinping. Xi’ s conciliatory comments on tariffs helped to ease concerns about an escalating conflict between the world’ s two

Facebook and Apple led the losses. The Dow Jones Industrial Average fell 395.78 points to 25,017.44. The dropped 1.7 percent to 2,690.73 as the China and the U . S . have been in a trade spat for most of the year. The world' s largest economies have slapped tariffs on billions of dollars worth of

“I think there’s a lot of fear embedded in the bond market,” said Jim Paulsen, chief investment strategist at The Leuthold Group. The inverted yield curve “is the biggest risk right now. It’s my number one worry but I think it’s overdone. If economic reports continue to improve, then I think people will decide this doesn’t look like a recession.”

“The fact that we have negative yields around the world makes this somewhat a different signal. The fact we inverted on underheat rather than the normal inversion on overheat makes it somewhat different,” Paulsen added.

The increasingly violent protests in Hong Kong and a crash in the Argentine peso also drove investors to perceived “safe haven” assets such as U.S. bonds, gold, and the Japanese yen.

Market sentiment was already fragile due to increasing signs that the world’s two largest economies — the U.S. and China — are unlikely to quickly resolve their protracted trade war. The two countries will resume trade negotiations in Washington in early September.

China once again fixed its yuan midpoint at 7.0326 per dollar on Tuesday, the fourth consecutive session where the People’s Bank of China set the figure at a level weaker than the psychologically 7-yuan-per-dollar level.

In corporate news, JD.com, Advance Auto Parts, and Elanco Animal Health are among some of the companies scheduled to report their latest quarterly results before the opening bell.

CDK Global, Adaptive Biotech, and Change Healthcare are among some of the companies set to report earnings after market close.

— CNBC’s Sam Meredith contributed reporting.

U.S. trade deficit shrinks slightly; exports, imports fall.
U.S. trade deficit shrinks slightly; exports, imports fall

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