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Stocks Rise as Traders Size Up Tariffs 09/18 09:19

   U.S. stocks rose in early trading Tuesday as investors weighed the White 
House's decision to impose tariffs on another $200 billion of Chinese goods 
beginning next week.

   (AP) -- U.S. stocks rose in early trading Tuesday as investors weighed the 
White House's decision to impose tariffs on another $200 billion of Chinese 
goods beginning next week. Gains in technology, energy and consumer-focused 
companies outweighed losses in utilities and elsewhere in the market. Oil 
prices rose.

   KEEPING SCORE: The S&P 500 index rose 8 points, or 0.3 percent, to 2,897 as 
of 10:05 a.m. Eastern Time. The Dow Jones Industrial Average climbed 32 points, 
or 0.1 percent, to 26,094. The Nasdaq composite gained 54 points, or 0.7 
percent, to 7,949. The Russell 2000 index of smaller companies added 6 points, 
or 0.4 percent, to 1,709.

   TRADE SHOWDOWN: The Trump administration announced late Monday that it will 
impose tariffs on an additional $200 billion of Chinese goods starting next 
Monday, potentially raising prices on goods ranging from handbags to bicycle 
tires. The tariffs will start at 10 percent and then climb to 25 percent on 
Jan. 1.

   China's Commerce Ministry said it would take "counter-measures" but gave no 
details. Beijing has warned that it would hit an additional $60 billion in 
American goods if Trump ordered more tariffs. If China does retaliate, Trump 
has threatened to add another $267 billion in Chinese imports to the target 
list. That would raise the total to $517 billion, covering nearly everything 
China sells in the United States.

   TECH REBOUND: Technology stocks rebounded after leading a market sell-off a 
day earlier. Micron Technology rose 2.3 percent to $44.60. Apple, which 
received an exemption to the new tariffs on goods imported from China, gained 
1.4 percent to $220.86.

   DISAPPOINTING QUARTER: Oracle slid 1 percent to $48.79 after the business 
software company said its latest quarterly sales fell short of analyst 
estimates.

   BOTCHED DELIVERY: FedEx dropped 4.9 percent to $242.93 after the package 
delivery giant reported quarterly earnings that fell short of Wall Street's 
forecasts.

   ENERGY: Oil prices climbed ahead of an upcoming OPEC meeting where members 
will weigh how to address the loss of supply from Iran, which faces U.S. 
sanctions. Benchmark U.S. crude rose 2.1 percent to $70.39 a barrel in New 
York. Brent crude, used to price international oils, gained 2.1 percent to 
$79.66 a barrel in London.

   The pickup in oil prices helped send energy stocks higher. Hess climbed 3.6 
percent to $69.10.

   BOND YIELDS: Bond prices fell. The yield on the 10-year Treasury rose to 
3.03 percent from 3 percent late Monday.

   CURRENCIES: The dollar rose to 112.24 yen from 111.18 yen on Monday. The 
euro strengthened to $1.1696 from $1.1686.

   MARKETS OVERESEAS: In Europe, the DAX in Germany rose 0.2 percent, while 
France's CAC 40 added 0.2 percent. Britain's FTSE 100 gained 0.1 percent. 
Japan's Nikkei 225 jumped 1.4 percent, while the Kospi in South Korea added 0.3 
percent. Hong Kong's Hang Seng index gained 0.6 percent. 


(BE)

 
 
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