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US-STOCKS-MARKETS
US stocks recover somewhat amid trade uncertainty
NEW YORK, May 15, 2019 (BSS/AFP) – Wall Street stocks finished solidly
higher on Tuesday, bouncing from the prior session’s rout amid ongoing
uncertainty over the prospects for a US-China trade deal.
The Dow Jones Industrial Average ended at 25,532.05, up 0.8 percent,
winning back about one third of the Monday’s loss.
The broad-based S&P 500 also climbed 0.8 percent to 2,834.41, while the
tech-rich Nasdaq Composite Index jumped 1.1 percent to 7,734.49.
Major US indices had lost more than two percent on Monday after China
announced retaliatory tariff measures on the United States following
Washington’s move last week to more than double the punitive tariffs already
in place.
Trump on Tuesday called the escalating dispute with China “a little
squabble,” but said Washington was still considering extending tariffs to
another $300 billion worth of Chinese merchandise.
Still, some analysts viewed the reaction in markets on Monday as
exaggerated and still expect a deal. The two sides have both said they expect
further talks, including at a Group of 20 summit next month in Japan.
“Volatility is increasing on the heels of uncertainty in trade
discussions,” said Terry Sandven, chief equity strategist for US Bank Wealth
Management.
Among individual companies, Walt Disney gained 1.4 percent after announcing
it reached agreement with Comcast to take control of streaming service Hulu.
Comcast, which holds a 33 percent stake, advanced 1.5 percent.
BSS/AFP/HR/1205