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11.06.2019 04:12

Major US stock indexes finished trading in positive territory

Major US stock indexes rose moderately, as the United States abandoned its plans to introduce tariffs on Mexican imports, which helped to ease some of the trade concerns that had put pressure on the market since the beginning of May.

The US president said on Sunday on Twitter that the proposed 5 percent tariffs on Mexican imports would be suspended for an “indefinite period.” The head of the White House also expressed confidence that Mexico will deal with migration from Central America after the two neighbors reached an agreement.

Meanwhile, investors continued to closely monitor the development of the trade war between the United States and China. Donald Trump told CNBC today that he believes that China will make a deal with the US “because they have to.”

Donald Trump and Chinese leader Xi Jinping are due to meet at the G-20 summit later this month. On Monday, Trump said that if C missed the meeting, more tariffs on Chinese imports would take effect immediately. The head of the White House also threatened to impose duties on goods from China for another $ 300 billion, if they can not make a deal in the near future.

Investor optimism has also contributed to the message of a multibillion-dollar merger deal in the aerospace industry. Raytheon (RTN) and United Technologies (UTX) have agreed to a merger, which will result in a new company worth about $ 121 billion. However, the shares of these companies came under pressure after Trump said he was “a little concerned” with this merger, how it can adversely affect competition in the sector.

Market participants also studied the vacancy and labor turnover survey from the US Bureau of Labor Statistics, which showed that in April, the number of vacancies fell to 7,449 million from 7,474 million in March (revised from 7,488 million). Analysts had expected the number of vacancies to fall to 7.4 million. The level of vacancies did not change, and amounted to 4.7%.

Most of the components of DOW finished trading in positive territory (21 out of 30). The growth leader was the shares of The Goldman Sachs Group (GS; + 2.30%). Outsider were United Technologies Corp. (UTX; -2.91%).

Almost all sectors of the S & P recorded an increase. The largest growth was shown by the service sector (+ 0.9%). Only the utility sector decreased (-0.7%).

At the time of closing:

Dow 26,062.68 +78.74 +0.30%

S & P 500 2,886.73 +13.39 +0.47%

Nasdaq 100 7,823.17 +81.07 +1.05%


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