ZCZC
BCN-19
US-STOCKS-MARKETS
US stocks gain on report of possible Mexico tariff delay
NEW YORK, June 7, 2019 (BSSAFP) – Wall Street stocks finished solidly
higher for a third straight session Thursday following a report that the
White House could delay tariffs on Mexican imports.
Major indices had been mildly positive through early afternoon but added
to gains after Bloomberg reported the United States could push back a plan to
impose the tariffs on June 10 to permit more time for talks on illegal
immigration.
The Dow Jones Industrial Average ended at 25,720.66, up 0.7 percent.
The broad-based S&P 500 gained 0.6 percent, settling at 2,843.49, while
the tech-rich Nasdaq Composite Index advanced 0.5 percent to 7,615.55.
Investor unease over trade has risen since US President Donald Trump a
week ago announced he would put tariffs on Mexican imports unless it did more
to stem the flow of migrants at the southwestern United States border.
But investors welcomed the Bloomberg report, along with upbeat comments
from Mexican Foreign Minister Marcelo Ebrard, who said talks with US
officials at the State Department had yielded progress.
“Yes, I think we have advances today,” Ebrard told reporters after more
than two hours of talks with mid-level US officials.
Thursday’s gains marked the third straight day of increases after markets
rallied on Tuesday and Wednesday on more dovish commentary from the US
Federal Reserve.
Investors are also looking ahead to Friday’s US jobs report. Analysts
project the US added 180,000 jobs last month and that unemployment rose to
3.7 percent from 3.6 percent.
BSS/AFP/HR/1050