© Reuters. Merchants Work Downstairs in NYSE, New York
Amy Caren Daniel and Sruthi Shankar
(Reuters) – US equities turned course to trade higher on Wednesday after a report that President Donald Trump may delay the decision to deposit auto tariffs by they offer relief in markets worried about slowing global growth after a series of weak economic data
The tariff decision deadline is May 1
Meanwhile, Finance Minister Steven Mnuchin said he will probably travel to Beijing soon to continue business negotiations with China. "We received support from Mnuchin's comments and then auto tariffs, which is a positive development because there were concerns that tariffs would be extended to car imports," said Paul Brigandi, Managing Director, Portfolio Management, Direxion Funds, New York . 19659004] "From now on, until June, when the G20 meets, if something goes wrong, we are in a period of high volatility."
Stocks came under pressure earlier in the day after the unexpected fall in retail sales in the US in April, when households reduced their purchases of motor vehicles and a variety of other goods, suggesting a moderation in economic activity.
Fears of growth slowdown were boosted by a decline in industrial output last month.
China data also showed a surprisingly weak growth in retail sales and industrial output in April, putting pressure on the country to introduce more incentives. 19659004] Weak data hit US Treasury earnings and interest rate sensitive bank shares fell by 1.01%. The broader financial sector has fallen by 0.56%, the highest among the major S&P sectors.
Concerns that a business dispute might be lengthy and could affect the global economy, keep investors at the stake in the past few days, with reference value S&P now reaching 3.9% below its historic high of two weeks ago
11:09 hrs. ET increased by 40.71 points, respectively. and increased by 50.19 points, ie 0.65% to 7,784.69
Technological stocks increased by 0.7%, which is the largest increase in markets. More than a 2% increase in the share of shares Facebook Inc. (NASDAQ 🙂 and Alphabet (NASDAQ 🙂 Inc canceled the Communication Services Index by 1.3%, which is the most among the top 11 S&P sectors.
Agilent Technologies (NYSE 🙂 Inc shares fell 9.9%, most on S&P 500, after a medical device manufacturer reported quarterly results below estimates.
Perrigo Company Plc fell 1.5% when Jefferies lowered its market price target.
The following questions outweigh the downward trend of the 1.18-on-1 ratio on the NYSE market and 1.06-on-1 on the Nasdaq. The S&P Index recorded 12 new 52-week highs and 10 new lows, while the Nasdaq recorded 46 new altitudes and 49 new lows.