Home Business Stocks – Wall Street Jumps Sharply After U.S. Delays Some Trade Tariffs – Investing.com

Stocks – Wall Street Jumps Sharply After U.S. Delays Some Trade Tariffs – Investing.com

14 min read

© Reuters.

Investing.com – Wall Street surged on Tuesday after the U.S. Trade Representative office said it would delay tariffs on some Chinese goods to Dec. 15.

The rose 450 points, or 1.7%, by 10:19 AM ET (14:19 GMT), while the gained 51 points, or 1.7%, and the was up 174 points, or 2.2%.

The office determined that tariffs on certain articles would be delayed until Dec. 15, including “cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing,” the USTR said in press release.

Tensions between the U.S. and China have escalated over the last few weeks, as U.S. President Donald Trump said he would increase tariffs on Chinese goods on Sept. 1.

Technology stocks recovered, with Apple (NASDAQ:) up 1.5%, Facebook (NASDAQ:) gaining 1.2% and Tesla (NASDAQ:) inching up 0.3%. Verizon (NYSE:) rose 0.6% after reports that it is selling its blogging website Tumblr for an undisclosed amount to WordPress owner Automatic.

JD.com jumped 8% after the China-based internet company reported a 23% rise in quarterly revenue, while Mattel (NASDAQ:) surged 8% and Hasbro (NASDAQ:) gained 6.2%.

Uber (NYSE:) extended its fall by 2.1% amid investor concerns over growth, while Advanced Micro Devices (NASDAQ:) fell 1.5%.

In commodities, jumped 2.5% to $56.34 a barrel while the , which measures the greenback against a basket of six major currencies, inched up 0.3% to 97.458. fell 0.3% to $1,511.30 a troy ounce.

— Reuters contributed to this report.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Let’s block ads! (Why?)

Source link


Check Also

A real estate company surprised employees with $10 million in bonuses at a holiday party – CNN

Loading...   So when the 198 employees of St. John Properties received surprise bonus…