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Shares advanced mainly on Tuesday, Nov. 27, led by Netflix (NFLX) and Google (GOOG), as markets recovered from President Trump's remarks that his weekend summit with Chinese President Xi Jinping might not lead to a breakthrough in trade negotiations between the two countries. the two largest economies in the world.
In an interview with the Wall Street Journal, Trump said it was "very unlikely" that he is clinging to the current level of tariffs applied to imports made by China in the United States. at 25% on January 1st. He also said, unless there was an agreement on the sidelines of the G-20 summit in Buenos Aires this weekend, that he was ready to apply a new round of levies on imports of goods. worth $ 267 billion, including iPhones and laptops, starting next year.
"The only deal would be for China to open up its country to US competition," Trump said in an interview. "As for other countries, it belongs to them."
The Dow Jones Industrial Average rose 55 points, or 0.2%, to 24,695, the S & P 500 0.2% and Nasdaq trading slightly higher.
In a speech on Tuesday, Vice President of the US Federal Reserve, Richard Clarida, said the risks to the economy were "symmetrical" and that a slow rise in rates of interest. interest could "lead to higher inflation and costly inflationary expectations". and ultimately lead to a financial crisis.
"The risks have become more symmetrical and less downward biased than when the current rate cycle began three years ago," Clarida said.
Fed President Jerome Powell will speak at the New York Economic Club on Wednesday.
Apple Inc. (AAPL), the maker of the iPhone, dropped 0.7% after Trump suggested in his Journal interview that US consumers could "easily" handle an additional 10% tariff on iPhones and MacBooks imported it's increasing levies on products made in China next year.
"Maybe, maybe it depends on the rate," said Trump in reference to taxes on mobile phones and laptops. "I mean, I can earn 10% and people could handle that very easily."
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Amazon.com Inc. (AMZN) grew 0.6% after stating that Cyber Monday was the biggest event buying a company's history day, adding that consumers had purchased more than 180 million items on its global platform during the five days that started Thanksgiving. .
United Technologies Corp. (UTX) lost 5% Tuesday, after the industrial conglomerate announced its intention to split into three separate companies by 2020.
"Our decision to separate United Technologies is a pivotal moment in our history and will allow each independent company to generate sustained growth, lead its industry in innovation and target its customers, as well as maximize the creation of value, "said United Technologies chief executive Gregory Hayes.
The three companies will be United Technologies, which will host its activities as suppliers to the aerospace and defense industry; Otis, which manufactures elevators, escalators and moving walkways; and the Carrier business air conditioning and building systems.
This decision follows last week's approval by Chinese regulators of United Technologies' acquisition of Rockwell Collins Inc. (COL).
Tesla Vehicle Sales Inc. (TSLA) in China fell 70% in October over the previous year, the country's tourism car badociation told Reuters. The stock fell 0.9%.
An official of the China Pbadenger Car Association said Tesla had sold only 211 cars on the world's largest car market in October.
Tesla said that tariff increases on auto imports were hurting its sales in China, where it imports all cars sold in the country, Reuters noted.
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