Yahoo Finance Stocks - Wall Street Opens Higher; China Retaliates on U.S. Tariffs
Investing.com - Wall Street was higher on Tuesday, as investors shrugged off news that China is retaliating against a fresh round of U.S. tariffs.
The S&P 500 rose 9 points, or 0.34%, to 2,898.68 as of 9:36 AM ET (13:36 GMT), while the Dow increased 77 points, or 0.30%, to 26,140.10 and the tech-heavy Nasdaq Composite jumped 43 points, or 0.56%, to 7,939.77.
China said it would impose new tariffs on U.S. goods worth $60 billion, effective Sept. 24, Reuters reported. The new tariffs are in response to U.S. tariffs on Monday of 10% on $200 billion in Chinese goods, which will go up to 25% at the end of the year.
Donald Trump tweeted that “there will be great and fast economic retaliation against China if our farmers, ranchers and/or industrial workers are targeted!” He previously stated that the U.S. would impose tariffs on another $267 billion of additional imports if China retaliates.
Apple (NASDAQ:AAPL) inched down 0.13% after the White House spared a category of high-tech products from tariffs that Apple uses for its Watch and AirPods.
Avon (NYSE:AVP) surged 6.25% amid reports that Brazil’s Natura Cosmeticos has approached the cosmetics company about a takeover. Amazon.com (NASDAQ:AMZN) rose 0.87%, while Tesla (NASDAQ:TSLA) jumped 1.68% and medical marijuana company Tilray (NASDAQ:TLRY) rose 12.75%.
Elsewhere, Oracle (NYSE:ORCL) dipped 2.91% after its revenue for cloud services were less than expected, while Chinese e-commerce firm Alibaba (NYSE:BABA) fell 1.25%.
In Europe stocks were flat. Germany’s DAX rose 1 point, or 0.01%, while in France the CAC 40 increased half a point, or 0.01%, and in London the FTSE 100 was down 2 points, or 0.04%. Meanwhile, the pan-European Euro Stoxx 50 lost 2 points, or 0.07%, while Spain’s IBEX 35 rose 20 points, or 0.22%.
In commodities, gold futures rose 0.14% to $1,207.50 a troy ounce, while crude oil futures jumped 1.67% to $69.83 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.19% to 93.91.
Related Articles
Ferrari plans 15 new models, SUV to drive earnings growth
Wall Street opens slightly higher as oil, tech resist tariff woes
Ireland collects disputed Apple taxes in full ahead of appeal
