The Dow starting to make a comeback, after yesterday's rout
Stocks rose Tuesday morning, a day after a sharp escalation in U.S.-China trade tensions triggered the worst day for major indexes since early January.
What’s driving the market? The start of the week was marked by a ramp up in trade tensions, after China fired back at U.S. tariffs with retaliatory duties that could reach 25% on $60 billion in annual U.S. exports. That was after the U.S. last week raised tariffs on $200 billion in annual Chinese imports to 25% from 10%, and threatened more following talks that ended Friday between the two countries without a deal.
Our great Patriot Farmers will be one of the biggest beneficiaries of what is happening now. Hopefully China will do us the honor of continuing to buy our great farm product, the best, but if not your Country will be making up the difference based on a very high China buy...... — Donald J. Trump May 14, 2019 What’s on the economic calendar? Small business optimism rose to a four-month high in April, gaining 1.7 points to 103.5, according to the NFIB Small Business Optimism index, released Tuesday morning.
Which stocks are in focus? Apple Inc. AAPL, +1.65% shares are in focus after the Supreme Court ruled Monday that consumers can sue the company for forcing them to buy apps exclusively through the company’s App Store. The stock is up 0.8% in premarket action, though it has fallen 7.5% month-to-date. Shares of Comcast Corp. CMCSA, +2.28% could be in focus after the cable giant announced that it has agreed to sell its 33% stake in Hulu in five years to Walt Disney Co. DIS, +2.24% for at least $27.5 billion, while immediately giving up its voting rights over the streaming company.
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