قالب وردپرس درنا توس
Home / Business / Stock indices rise as China's president eases trade fears

Stock indices rise as China's president eases trade fears



NEW YORK – Stocks jumped Tuesday after Chinese President Xi Jinping said Beijing would lower tariffs on imported cars and improve intellectual property protection, taking steps to ease tensions in China Could loosen trade. Facebook climbed as CEO Mark Zuckerberg testified before the Senate on the company's privacy scandal

Xi & # 39; s proposals could help the US and China settle their differences and avert a trade dispute that slows down global trade. The reversal of tensions has contributed to the crude oil price rising by 3.3 percent.

"The growing expectation of the market is that the two sides will now sit down," said Paul Christopher, head of global market strategy at Wells Fargo Investment Institute. although the shares could recover in the course of the negotiations. "There is still a lot at stake because you have a global supply chain that could be disrupted due to tariffs."

Facebook, Twitter and Snap rallied when Sen. Mark Zuckerberg surveyed the Cambridge Analytica Privacy scandal over the past four weeks. Technology companies have wavered as investors wonder if the government will impose stricter technology company regulations, and these worries eased on Tuesday. Zuckerberg will testify before the House of Representatives on Wednesday.

The S & P 500 Index rose 43.71 points or 1.7 percent to 2,656.87. The Dow won 428.90 points or 1.8 percent to 24.408 points. Just before noon, it rose by 532 points. The Nasdaq compound added 143.96 points, or 2.1 percent, to 7,094.30. The Russell 2000 Small Business Share Index rose 28.97 points, or 1.9 percent, to 1,543.43.

The overseas indices also climbed. The German DAX rose by 1.1 percent and the British FTSE 100 by 1 percent. The French CAC 40 gained 0.8 percent. Japan's benchmark Nikkei 225 gained 0.5 percent and South Korea's Kospi added 0.3 percent, while Hang Seng added 1.7 percent in Hong Kong.

At a business conference, Xi promised changes in some areas prioritized by the US. He did not address other sensitive issues, including the requirement for foreign companies to outsource technology to potential local competitors.

General Motors climbed 3.3 percent to $ 39.07 and Tesla climbed 5.2 percent to $ 304.70.

Technology companies have made some of the biggest swings in the market spewed during trading. If trading conditions worsen, higher costs and lower revenues could result. They have also outperformed most other parts of the market for more than a year, and companies such as Apple, Microsoft and Google's parent Alphabet have accounted for an overwhelming portion of the market's gains.

Apple jumped 1.9 percent to $ 173.25 Microsoft rose 2.3 percent to $ 92.88.

So far, the US has proposed tariffs on $ 50 billion in China-made products, and China has said that it could set tariffs on a corresponding volume of imported goods from the US. Emagazine.credit-suisse.com/app/art … = 157 & lang = DE Christopher von Wells Fargo said that the US still has plenty of leverage, mainly because it targets products that are only partially in. Englisch: emagazine.credit-suisse.com/app/art … = 263 & lang = en China to be assembled [19659014] "In the next round of bargaining, the US could start targeting goods that the Chinese mostly produce themselves," he said. That would make China economically worse.

Facebook CEO Mark Zuckerberg appeared before two Senate committees, which included nearly half of the Senate and were interviewed about the Cambridge Analytica scandal. 87 million users were affected and Facebook started this week with the notification.

Facebook rose 4.5 percent to $ 165.04 and made big profits during Zuckerberg's statement. Twitter jumped 5.3 percent to $ 29.53 and Snap gained 2.3 percent to $ 14.48. While Tuesday was the best day for Facebook's stock in two years, it has dropped 11 percent since the March scandal.

Benchmark US crude rose 3.3 percent to $ 65.51 a barrel in New York. Brent crude oil, which is used to value international oils, has gained 3.5 percent in London to $ 71.04 a barrel. Oil prices have risen sharply recently as investors wonder if the trade dispute will slow global economic growth.

Exxon Mobil gained 2.9 percent to $ 77.07, Marathon Oil 4.3 percent to $ 17.06.

VeriFone Systems rose to be bought after approval from Francisco Partners and British Columbia Investment Group. The investment group will pay $ 23.04 per share or $ 2.54 billion for VeriFone, which makes electronic payments terminals. The VeriFone share climbed 51.9 percent to $ 22.78.

The bond prices eased. The yield on the 10-year Treasury bond rose from 2.78 percent to 2.80 percent.

In the other energy trade, wholesale gasoline rose 2.9 percent to $ 2.04 a gallon. Heating oil added 3.4 percent to $ 2.06 per gallon. Natural gas lost 1.4 percent to $ 2.66 per 1,000 cubic feet.

Gold rose 0.4 percent to $ 1,345.90 an ounce. Silver added 0.4 percent to 16.60 per ounce. Copper rose 1.9 percent to $ 3.14 a pound.

The dollar rose from 106.78 yen to 107.17 yen. The euro rose from $ 1.2322 to $ 1.2361.

____

AP Markets Writer Marley Jay can be reached at http://twitter.com/MarleyJayAP. His work can be found at https://apnews.com/search/marley%20jay

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, transmitted, rewritten or redistributed.


Source link