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02.07.2019 04:09

Major US stock indexes finished trading in positive territory

Major US stock indexes rose moderately against the background of a rise in price for shares of semiconductor manufacturers after the leaders of the United States and China agreed to resume negotiations.

US President Donald Trump and Chinese President Xi Jinping have agreed not to introduce new tariffs on American and Chinese goods after meeting on the sidelines of the G20 summit in Osaka (Japan) on Saturday.

Trump said that the meeting was the best way possible, noting: "We are again on the right track." China’s Xinhua State News Agency reported that both leaders agreed to “resume trade consultations between their countries based on the principles of equality and mutual respect."

The head of the White House added that the United States will relax restrictions on US companies to sell products to the Chinese telecommunications giant Huawei. In May, the US banned companies from selling Huawei components, citing national security concerns. The US president also said that China would “buy agricultural products.”

Investors also studied data on activity in the manufacturing sector. A report published by the Institute for Supply Management (ISM) showed that in June, activity in the US manufacturing sector slightly deteriorated, but turned out to be higher than the experts' forecast. The manufacturing PMI fell in June to 51.7 points from 52.1 points in May. Analysts had expected the index to fall to 51.0 points. 

Most of the DOW components are in the black (22 out of 30). Growth Leader - Apple Inc. (AAPL; + 1.87%) Outsider - The Boeing Co. (BA; -2.28%).

Almost all sectors of the S & P finished trading in positive territory. The technological sector grew the most (+ 1.1%). The exception is the utility sector (-0.3%) and the conglomerate sector (-0.2%).

At the time of closing:

Dow 26,718.86 +118.90 +0.45%

S & P 500 2,964.44 +22.68 +0.77%

Nasdaq 100 8,091.16 +84.92 +1.06%


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