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Bisnis.com, JAKARTA – The movement of the three major US stock indices (US) on Wall Street ended in the green zone on Monday (07/02/2018), when the strengthening of a number of technology companies covering concerns about escalating US trade wars with its trading partners.
Based on data Reuters the Dow Jones Industrial Average closed 0.15% at 24,307.18, the S & P 500 rose 0.31% to 2,726.71, while the United Nasdaq composite index finished up 0.76% to 7,567.69.
Microsoft Inc., Facebook Inc., and Apple Inc. each by 1% or more, pushing the S & P 500 information technology index up 0.99%, While raising to 11% while investors are betting on strong Silicon Valley earnings "It looks like the technology will not slow this year," said Jake Dollarhide, CEO of Longbow Asset Management in Tulsa , Oklahoma, cited by Reuters
was set on July 6 for the imposition of US duties on Chinese products valued at $ 34 billion of Chinese goods. Meanwhile, the EU has warned the United States that the imposition of import duties on cars and auto parts should lead to counter-attack measures against US exports totaling 294 billions of US dollars. Canada has pledged to take action in response to US tariffs on steel and aluminum.
"The response to this tariff will raise prices for consumers and will likely reduce demand for products," said Jack Ablin, chief investment officer at Cresset Wealth Advisors.
Ablin expects solid earnings from US companies for the quarter ending in June. However, earnings growth for the remainder of the year 2018 is threatened by the escalation of trade wars.
Only three of the 11 major sectors of the S & P 500 ended Monday down, with the energy sector retreating 1.55%. 19659003] Tuesday (3/7) pm local time, US stocks will begin to close before the holidays of July 4th. Some investors are already taking leave on Monday. The volume of US equity trading also reached 6.2 billion shares, against an average of 7.3 billion in the last 20 trading days.
% in May, more than expected, due to increased investment in private and public construction projects
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