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

December 13, 2019

I had a stray thought today regarding the HSE.PR.C reset fiasco … if they calculated the rate in good faith as of November 29, why didn’t they announce the rate on November 29? But now it’s time for PrefLetter! HIMIPref™ Preferred IndicesThese values reflect the December 2008 revision of ...

Oil prices climb as China confirms a deal on the text of a phase one trade deal with the U.S.

Oil futures climbed on Friday, with U.S. prices touching their highest levels since mid-September, after China said it has reached an agreement on the text of a phase one trade agreement with the United States. The lack of a trade agreement had been a major headwind to crude demand, but oil prices ...

Schedule for Week of December 15, 2019

The key economic reports this week are November Housing Starts, Existing Home Sales, the 3rd estimate of Q3 GDP, and November Personal income and outlays.For manufacturing, November Industrial Production, and the December New York, Philly and Kansas City Fed surveys, will be released this week.----- ...

Week Ahead – Phase-one trade deal and UK election aftermath

The US dollar remains at a critical juncture as Fed policy will be on hold for the foreseeable future and as we start to see an economic rebound come out of Europe. The world’s largest and strongest economy is likely to start to see economic growth slow in the fourth quarter, further cementing t ...

OANDA Market Insights – Episode 95 (Video)

OANDA Senior Market Analyst Craig Erlam previews the week’s business and market news with Jazz FM Business Breakfast presenter Jonny Hart. On this week’s podcast, Jonny and Craig reflect on another remarkable election in the UK, progress towards a phase one US-China trade deal and preview the ...

The American Retirement Nightmare

Megan Leonhardt of CNBC reports that according to one economist, the system is ‘flawed’ when most Americans have little or no retirement savings:It’s no secret that Americans are falling short when it comes to saving enough for retirement. But as a new report shows, many are disastrously unpr ...

Smells like teen spirit

  By Guest Blogger Doug Rowat . Thank god my kids aren’t yet teenagers; however, my seven-year-old daughter is already asking for a cellphone, so I’m getting a sense of what’s in store for me. I’m probably doomed. So, for those of you who do have teenagers I won’t presume to offer advi ...

AZP Upgraded to P-4(low) by S&P

Standard & Poor’s has announced: On Dec. 13, 2019, S&P Global Ratings raised its issuer credit rating on Atlantic Power Corp. (APC) to ‘BB-‘ from ‘B+’ based on its improving leverage profile. At the same time, S&P Global Ratings raised APLP Holdings Limited Partnership’s issue-level ...