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Stocks Rise as Tariffs on Auto Imports Delayed

16 May 2019

Stocks saw a rise yesterday after U.S President Donald Trump decided to delay imposing tariffs on auto imports for a period that could go up to six months.

As reports started coming in that the tariffs of as high as 25 percent on cars could be stalled and US Treasury secretary Steven Mnuchin’s stated that he thinks “we are close to an understanding with Mexico and Canada,” stocks were sent into the green. According to Yahoo Finance, the S&P 500 rose 0.58 percent towards the end of market close and the Dow rose 9.45 percent and Nasdaq advanced by 1.13 percent.

The European market also saw a rise as the Stoxx 600 was up by 0.5 percent and the FTSE 100 was up 0.8 percent.

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Everything posted herein is the Personal Opinion of the Author(s) and does not represent a statement made by TeleTrade. TeleTrade is providing this for informational purposes.

Maria Gregoriou

Market focus

  • German IFO business climate index drops in May
  • Eurozone: Flash PMI signals subdued business growth amid stagnant demand
  • German private sector maintains modest pace of output growth in May - IHS Markit
  • Germany's GDP increased by 0.4% in the first quarter of 2019, as expected

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