Stock Market Near Record on Topsy Turvy Thursday

Sep 12 17:09 2019 Print This Article

Several market moving events unfolded between the close of U.S. stock markets on Wednesday and the open on Thursday. As a result, the Dow Jones Industrial Average and the S&P 500 were both on the cusp of record highs on Thursday.

Here’s what investors need to know.

Delayed tariffs

Stock futures climbed Wednesday evening after President Donald Trump announced he would be delaying the planned increase of tariffs on Chinese goods by 15 days, as a “gesture of good will.” The tariffs are set to increase to 30% from 25% on about $250 billion worth of Chinese goods. Treasury Secretary Steven Mnuchin told CNBC on Thursday morning that the president “could do a deal any time” with China but won’t until “it’s a good deal.”

“The president delayed it because of a request from the vice premier,” Mnuchin added. He clarified that China’s Vice Premier Liu He made the request because Oct. 1 is the 70th anniversary of the establishment of the People’s Republic of China and said raising the tariffs on that day “caused them grave concern on the symbolism.”

Read More

About Article Author

Market Pulse

Established in 2006, MarketPulse is a free news site that provides full-time coverage of the world's largest financial markets, focusing on forex, commodities, and global indices research and analysis. Armed with a global team of securities analysts and strategists, Market Pulse provides timely, accurate, and informative research on major macroeconomic trends, technical analysis, and worldwide events that impact different asset classes and investors.

Related Items

US Open – China GDP falls to 6%, Turkey’s win, Brexit Vote looms, Oil rises, Gold stuck in range

US stocks and the dollar little changed in early Friday trade despite a worse than expected third-quarter GDP reading from China and heightened uncertainty regarding how Brexit will unfold over the weekend and a temporary cease-fire between Turkey and Syria.  Asian markets sold off after China’ ...

Tech Talk for Friday October 18th 2019

  European and Emerging Markets move higher Short term breakouts by the Eurozone ETF and the Emerging Markets ETF! Weakness in the U.S. Dollar contributed to their strength   StockTwits released yesterday @EquityClock India ETN $PIN moved above $24.49 extending an intermediate uptrend. Blackro ...

Ivanhoe encouraged by rise in palladium price

Ivanhoe Mines’ (TSX: IVN) co-chairmen Robert Friedland and Yufeng “Miles” Sun issued a communiqué this week stating that recent increases in the price of palladium, nickel, rhodium and gold have resulted in the weighted price of the ‘basket’ of metals contained in the ore at the company ...