Wall Street, hoping for a silence, ends up

Wall Street, hoping for a silence, ends up

The S & P 500 index is one of the most viewed on the New York Stock Exchange Bryan R. Smith

The New York Stock Exchange ended higher on Tuesday, helped by the hopes of reducing trade strains between the United States and its major trading partners, China, the European Union, Mexico and Canada.

According to final results at the close, the leading index of New York, the Dow Jones Industrial Average, gained 0.25% to 25,822.29 points.

The Nasdaq, with strong technological coloration, appreciated by 0.49% to 7.885.9 points.

The broad S & P 500 index rose by 0.21% to 2,862.96 points. In the course of the session it reached its highest historical level before it declined.

The Trump administration has postponed the publication of a report on possible additional taxes on car imports indefinitely, given the ongoing negotiations with the European Union, Canada and Mexico, said the American trade secretary.

In an interview with Wall Street Journal on Tuesday, Wilbur Ross said it was "not clear that the report was ready by the end of the month" of August, contrary to what he said in July.

On another trade front, Chinese Vice Minister of Commerce, Wang Shouwen, will meet this week in Washington with the American deputy minister of the Treasury for International Relations, David Malpass, while the two countries have been involved for several months. reciprocal attacks on import taxes.

"There are so many things at stake that it is very likely that both parties will reach an agreement", says Alan Skrainka of Cornerstone Wealth Management.

"David Malpass is the former chief economist at Bear Stearns Bank, he is serious and not political, he can do things," said Gregori Volokhine of Meeschaert Financial Services.

These various negotiating moments between Washington and its main partners were "the pillars of the rise of the market because they can breathe," the specialist said.

In addition, corporate earnings continued to support higher prices on a quarterly basis as nearly all companies listed in Wall Street reported quarterly results and "73% reported sales above estimates, a record," Skrainka noted.

The optimism of the market, which was already in force on Monday and Friday, did not allow the extensive index S & P 500, which groups the largest listed American companies, to close at a historically high level after a peak in execution. session at 2,873.23 points, a new level.

The bond market was tightening: around 10:30 PM GMT the 10-year rate on US debt rose to 2,843% compared to 2,819% at the end of Monday and 30 years at 3,002% against 2,985% a day earlier.

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