πŸ‡ΊπŸ‡Έ

Wall St. ends higher as trade fears recede

Video Credit: Reuters Studio
Published on September 30, 2019 - Duration: 01:41s

Wall St. ends higher as trade fears recede

U.S. stocks rallied on Monday as investors set aside worries about the U.S.-China trade war.

Conway G.

Gittens has the trading action.

Advertisement

Wall St. ends higher as trade fears recede

Wall Street ended the third quarter in rally mode as the White House tried to downplay reports it was looking to delist Chinese companies from U.S. stock exchanges.

Investors cheered that as a sign Washington wasn't getting ready to escalate a trade war with Beijing.

Yousef Abbasi is a global market strategist with INTL FCStone.

SOUNDBITE (ENGLISH) YOUSEF ABBASI, GLOBAL MARKET STRATEGIST, INTL FCSTONE, SAYING: "So you're talking about a trillion dollars of market cap in the U.S. trading for Chinese-domicile companies.

It juxtaposes it directly with the $1 trillion and change that they own in U.S. treasuries.

So I think that Trump is reminding China - hey 'if this trade war were to go further and there were going to be financial strings pushed and pulled, we've got the similar amount of capacity in size to impact your markets as you do ours." Tech stocks led the way up with the Dow, S&P 500 and Nasdaq each posting gains of less than one percent.

Class="kln">Apple was a stand-out to the upside.

CEO Tim Cook told a German newspaper sales of the latest iPhone were off to a strong start and JPMorgan raised its forecast on how many iPhones will be shipped.

Shares of Apple rallied more than two percent.

Oil stocks went in the opposite direction.

Persistent worries about demand in China, the world's top importer of crude oil, pulled oil prices and energy shares lower.

ExxonMobil, ConocoPhillips and Marathon Petroleum were among the S&P 500's biggest losers.

Wrapping up a final look at the third quarter: The Dow and S&P 500 gained 1.2 percent.

But the Nasdaq was slightly negative.

It was the stock market's worst quarterly performance so far this year.

You are here


πŸ’‘ One News Page Knowledge: Other News Mentions


Wall Street

Street in Manhattan, New York
Jim Hackett, who failed to impress Wall Street, will be replaced by James Farley, an auto industry veteran who started his career at Toyota.
Credit: NYTimes.com - Published 3 days ago

Wall Street loves the software giant's "big bet" as a way to attract consumers and take on Facebook.
Credit: CBS News - Published 4 days ago


White House

Official residence and workplace of the President of the United States
White House negotiators will recommend Trump make executive orders after stimulus talks with Democrats fell apart Friday.
Credit: USATODAY.com - Published 54 minutes ago

President Donald Trump recently said he may deliver his nomination acceptance speech during the Republican National Convention at the White House. Critics allege..
Credit: USATODAY.com - Published 1 hour ago

Even as the White House moves against the Chinese social media app, the intelligence agencies do not see it as a major issue along the lines of Huawei.
Credit: NYTimes.com - Published 2 hours ago

A court endorsed the House Judiciary Committee’s ability to pursue testimony from the former White House counsel as part of its oversight responsibilities.
Credit: NYTimes.com - Published 3 hours ago






Related videos from verified sources

Delisting of Chinese stocks would cause 'havoc' -Abbasi 06:38
Video credit: Reuters Studio - Published on September 30, 2019 

Investors focused on Trade Before Rates 01:11
Video credit: The Street - Published on September 13, 2019 

Trade hopes lift Wall Street 01:09
Video credit: Reuters Studio - Published on September 11, 2019 

You might like