Easing Tariff Concerns Contribute To Rebound On Wall Street
04 Fevereiro 2025 - 6:58PM
IH Market News
Stocks moved mostly higher during trading on Tuesday, largely
offsetting the weakness seen in the previous session. The major
averages all moved to the upside on the day, with the tech-heavy
Nasdaq leading the charge.
The major averages finished the session just off their best
levels of the day. The Nasdaq jumped 262.06 points or 1.4 percent
to 19,654.02, the S&P 500 (SPI:SP500) climbed 43.31 points or
0.7 percent to 6,037.88 and the Dow rose 134.13 points or 0.3
percent to 44,556.04.
The strength on Wall Street partly reflected easing concerns
about a global trade war after President Donald Trump agreed to
pause 25 percent tariffs on imports from Mexico and Canada for a
month.
Positive sentiment may also have been regenerated in reaction to
a report from the Labor Department showing job openings in the U.S.
fell by much more than expected in the month of December.
The report said job openings tumbled to 7.6 million in December
after climbing to an upwardly revised 8.2 million in November.
Economists had expected job openings to dip to 8.0 million from
the 8.1 million originally reported for the previous month.
The data led to some optimism about the outlook for interest
rates ahead of the release of the Labor Department’s more closely
watched monthly jobs report on Friday.
Meanwhile, traders largely shrugged off news that China has
slapped retaliatory tariffs on U.S. imports in response to a 10
percent trade duty imposed on Chinese goods.
China’s Finance Ministry said it will impose a 15 percent duty
on imports of coal and liquefied natural gas from the U.S.
In addition, there will be a 10 percent tariff on imports from
the U.S. of crude oil, agricultural equipment and automobiles
beginning February 10.
Sector News
Oil stocks moved sharply higher despite a decrease by the price
of crude oil, resulting in a 3.0 percent surge by the NYSE Arca Oil
Index.
Considerable strength was also visible among computer hardware
stocks, as reflected by the 2.5 percent jump by the NYSE Arca
Computer Hardware Index.
Steel, retail and networking stocks also saw significant
strength on the day, moving higher along with most of the other
major sectors.
Other Markets
In overseas trading, stock markets across the Asia-Pacific
region moved mostly higher during trading on Thursday. Japan’s
Nikkei 225 Index advanced by 0.7 percent, while Hong Kong’s Hang
Seng Index surged by 2.8 percent.
Meanwhile, the major European markets turned in a mixed
performance on the day. While the U.K.’s FTSE 100 Index slipped by
0.2 percent, the German DAX Index rose by 0.4 percent and the
French CAC 40 Index climbed by 0.7 percent.
In the bond market, treasuries recovered from early weakness to
end the day moderately higher. As a result, the yield on the
benchmark ten-year note, which moves opposite of its price, dipped
3.0 basis points to 4.513 percent after reaching a high of 4.598
percent.
Looking Ahead
Trading activity on Wednesday may be impacted by reaction to
reports on the U.S. trade deficit, private sector employment and
service sector activity.
Reaction to earnings news from Alphabet (NASDAQ:GOOGL) may also
impact trading, with the Google parent releasing its quarterly
results after the close of today’s trading.
Disney (NYSE:DIS), Uber (UBER) and Yum! Brands (YUM) are also
among the companies due to report their quarterly results before
the start of trading on Wednesday.
SOURCE: RTTNEWS
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