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Tariffs on Chinese products are expected to hold this year and news weakens …

by ace
Tariffs on Chinese products are expected to hold this year and news weakens ...

Dow Jones managed to close up 0.11% to 28,939.67 points – after setting the highest ever at the session at 29,054.16 points during the session.

For its part, the Standard & Poor’s 500 ended the day shedding 0.15% to 3,283.15 points after setting a new record in intraday trading at 3,294.25 points.

Also technological Nasdaq Composite reversed to the low on the final straight of the session, closing down 0.24% to 9,251.33 points, having set a new historical high at 9,298.33 points during the day.

Within a day of the signing of the "phase 1" trade agreement between the US and China – and a week when major US banks are starting to report their fourth quarter accounts – the environment was still optimistic today. opening of the session.

However, Bloomberg reported, citing sources close to the lawsuit, that current US $ 1 billion customs duties on Chinese products are expected to remain in force until after the November presidential election, which would led investors to take a more prudent attitude – thus driving the S&P 500 and Nasdaq into negative ground.

The US and China have agreed that, not earlier than 10 months after the signing of the partial trade agreement (which takes place tomorrow in Washington), the US will review progress and may reduce existing customs rates – which the agreement did in the Immediately, it was halting the imposition of new tariffs on December 15), worth US $ 360 billion of imports from China, says Bloomberg citing these sources,

"There was a lot of optimism about the deal and now this news is impacting on that optimism and there are a lot of questions in the air," Informa Financial Intelligence market strategist Ryan Nauman told Bloomberg.

Boeing seeks loan and appreciates

The highlight of this session was Boeing, which managed to close up 0.65% to $ 332.35, the day it was rumored that the aircraft manufacturer is talking to a group of banks to get funding.

According to Bloomberg, citing sources linked to the lawsuit, Citigroup is conducting talks between Boeing and a small group of banks to get credit at a time when it is in trouble as production of its 737 Max is suspended.

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

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