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US stocks are up
David Nelson, of Belpointe Asset Management, explains how US stocks have been lifted, despite reports that President Trump has asked his associates to move forward with $ 200 billion in duties on products Chinese.
The US futures markets traded on Monday as the Trump administration may announce new duties on $ 200 billion worth of imported goods, a senior government official told Reuters.
The administration plans to start with tariffs of about 10% on Chinese products worth $ 200 billion, below the level of 25% announced in early August.
"With China threatening to step up Russia and the EU if Trump continues with this hostile commercial approach, it will be interesting to see how the White House will respond to legislators' opposition," Craig said. Erlam, senior analyst at Oanda. "Trump clearly thought it would be a simple monetary fight and could have been caught off guard by the desire to use alternative tactics to defend himself."
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| I: DJI | AVERAGE DOW JONES | 26154.67 | 8.68 | + 0.03% |
| SP500 | S & P 500 | 2904.98 | 0.80 | + 0.03% |
| I: COMP | NASDAQ INDEX COMPOSITE | 8010.0437 | -3.67 | -0.05% |
The markets are also looking at news from the southeastern United States and the consequences of Florence, the storm that hit Friday as a Category 1 hurricane and is responsible for 17 deaths.
Over the weekend, as Florence was heading inland, flash flood stations were stationed in Virginia and southern West Virginia. The National Weather Service broadcast the watch Monday night in several counties in West Virginia.
A reading on the manufacturing sector of New York was published Monday morning. It dropped 7 points to 19 in September.
After the close of the markets, the results will be published by FedEx and Oracle.
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