Dow is getting closer to the rise despite the uncertainty of trade between the United States and China

Investing.com – The Dow closed higher on Thursday but gave up much of its gains after the Trump government downplayed a report that the US was considering easing tariffs on China for accelerate a trade agreement.

The index closed at 0.67% to 24,370.10, below its intraday peak of 24,474.46. The gain of 0.76% and the rise of 0.71%.

Wall Street has dampened some gains while an investor hoped that a trade deal between China and China would be about to be attacked by a Treasury spokesman. The spokesman downplayed the significance of a Wall Street Journal report suggesting that US authorities were on the cusp of reducing tariffs on imports from China in order to persuade Beijing of the current situation. consider new concessions on trade.

"Neither the Secretary of State nor Ambbadador Lighthizer has made any recommendation to anyone regarding tariffs or other elements of the negotiation with China", said the spokesperson at CNBC.

The United States has imposed tariffs on Chinese goods worth $ 250 billion, about half of the value of their US imports, and many hope that an agreement can be reached , or at the very least avoid the threat of further escalation.

The 90 day truce of the trade war is due to end on March 1st. Without agreement, President Donald Trump has threatened to impose a new round of tariffs and increase tariffs on imports from China from 25% to 10%.

caterpillar (NYSE 🙂 and Boeing (NYSE :), the two world trade barometers because of their significant international exposure, have closed up more than 2%, supporting industry and the wider market.

Defense values ​​also dragged industries higher after President Trump presented a revamped US missile defense strategy. Northrop Grumman (NYSE 🙂 and Lockheed Martin (NYSE 🙂 finished the day higher. Fastenal (NASDAQ :), the leading distributor of industrial and construction supplies, also played a role in the widespread rise after the publication of results and revenues. Shares rose nearly 6%.

Energy-related stocks, on the other hand, resisted the decline in oil prices, highlighting concerns over weak demand and rising US production.

Financial services continued to focus on earnings, although Morgan Stanley (NYSE 🙂 fell after its profits and revenues for the Citigroup (NYSE :), JPMorgan Chase & Co (NYSE 🙂 and Goldman Sachs (NYSE 🙂 closed the day higher.

In other corporate earnings, Netflix shares (NASDAQ 🙂 fell more than 2% after trading, after a mixed report in the fourth quarter that exceeded badysts' expectations, but whose revenues were insufficient. The streaming giant has added subscribers.

Main winners and losers of the S & P 500 today:

Fastenal (NASDAQ :), M & T Bank (NYSE :), PPG Industries (NYSE 🙂 were among the top winners of the S & P 500 for the session.

Pacific Gas & Electric Co. (NYSE :), Morgan Stanley (NYSE :), CenturyLink (NYSE 🙂 have been among the worst of the session on the S & P 500.