US stock market up despite trade concerns

US stocks rose on Monday after a jobs report and despite new threats from the White House to impose higher tariffs on Chinese products.

CBS shares fell by about 3% after the announcement of the resignation of CEO Les Moonves on Monday as new allegations of sexual harassment were made.

Under the terms of the settlement, Moonves will immediately resign – including the president and president of the company – and will be replaced by Joseph Ianniello, CBS's director of operations, who will serve as chairman and chief executive officer until then. that a permanent successor be found.

In the United States, economic news added 201,000 jobs last month, exceeding expectations, while the unemployment rate was stable at 3.9% in July. Wages have finally increased, the annual rate of growth of wages reaching 2.9% against 2.7% in August, said Friday the Ministry of Labor.

The payroll increased by 201,000 in August and the unemployment rate remained at 3.9%. Analysts polled by Thomson Reuters anticipated the creation of 191,000 additional jobs, with the unemployment rate falling to 3.8% from 3.9% in July.

Meanwhile, the trade dispute between the United States and China could worsen as the White House threatens to impose additional duties on Chinese products. In the same vein, US and Canadian officials continued negotiations on a revised North American Free Trade Agreement.

On Saturday, President Trump tweeted that Apple should manufacture products in the United States if it wanted to avoid tariffs on Chinese imports. This sent shares of Apple suppliers in Asia.

Inventories in China ended Monday down after Trump's latest trade threats to impose tariffs on almost all Chinese exports to the United States. The Shanghai Composite ended the day down 1.2%. Hang Seng of Hong Kong ended the session down 1.3%.

The Nikkei's average shares in Japan recorded a series of six losses on Monday after the release of revised GDP data. The average Nikkei shares in Japan increased by 0.30%.

"Asian markets were fighting for support during the session after Donald Trump threatened to levy taxes on Chinese imports, but the biggest risk to US equities is the extent of Beijing's retaliatory measures," said James Hughes. , market analyst at AxiTrader. "It's a story that will likely continue to unfold in the coming weeks."

In Europe, the London FTSE increased by 0.36%, the German DAX by 0.46% and the French CAC by 0.64%.

On Friday, the Dow Jones Industrial Average Index lost 79.33 points, or 0.31%, to 25,916.54. The S & P 500 was down 6.37 points, about 0.2%, to 2,871.68. The Nasdaq Composite lost 20.18 points, or 0.25%, to 7,902.54.

FOX Business & # 39; Leia Klingel contributed to this article.