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China cuts tariffs on 859 products and Wall Street reaches new highs

by ace
China cuts tariffs on 859 products and Wall Street reaches new highs

Dow Jones closed at 0.34% to 28,551.53 points, very close to the historic high of 28,608.64 points set on Friday.

The Standard & Poor's 500, on the other hand, advanced 0.09% to 3,224.01 points after scoring just before the highest ever at 3,227.78 points.

Technological Nasdaq Composite also gained, up 0.23% to 8,945.65 points. During the session it set a new record at 8,956.64 points.

China has announced that it will reduce import tariffs on a wide range of products, including smartphone food and accessories, thus continuing its initiative to lower customs barriers to boost domestic demand.

According to the Chinese Ministry of Finance, there will be 859 products that will see reduced customs rates.

This news greatly animated the markets worldwide and in the US was no exception.

In addition, it is also clear that the Phase 1 trade agreement outlined between the US and China will be signed in January – which has helped dispel fears on this front.

Outstanding, on the positive side, was Tesla, which closed at 3.36% to $ 419.22, but today traded at $ 422.01 – a new all-time high.

Rising for the fourth straight session, the US electric vehicle maker was being boosted by raising more than 10 billion yuan (1.28 billion euros) in financing from Chinese banks for its Shanghai factory – as it prepares to begin shipping China-made Model 3s, Bloomberg says.

Boeing was also on the earnings side, rising 2.91% to $ 337.55 on the day it announced the departure of its CEO, Dennis Miulemburg, after a disastrous year for the aircraft builder.

. (tagsToTranslate) Wall Street (t) Standard & Poor

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