Dow futures up over 100 points as trade fears calm ebb for now

Stock futures pointed to a firmer start for Wall Street Wednesday, as worries about a U.S.-China trade war appeared to ebb for now, tempting some investors to wade into a market that took a hard hit on those concerns a day earlier.

Investors were also looking ahead to comments by Federal Reserve Chairman Jerome Powell and existing home sales data..

Dow Jones Industrial Average futures rose 113 points, or 0.5%, to 24,828, while S&P 500 futures added 9.05 points, or 0.3%, to 2,775.25. Nasdaq-100 futures rose 23 points, or 0.3%, to 7,275.

Futures were up as some investors were tempted back into the market after Tuesday’s meltdown, triggered by the U.S. threat of tariffs on some $ 450 billion more in Chinese products. The Trump administration dialed up the rhetoric late Tuesday, accusing China of waging a systematic campaign of “economic aggression” in a report released Tuesday.

Source: Marketwatch

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European stocks open higher amid rising trade war fears

European markets opened higher Wednesday morning, despite heightened fears of a full-blown Sino-U.S. trade war.

The pan-European Stoxx 600 was up around 0.46 percent shortly after the opening bell, with most sectors and major bourses in positive territory.

In Asia, China’s stock market tumbled again Wednesday, extending a rout from the previous session. Beijing’s central bank stated in a working paper Tuesday that China should cut banks’ reserve requirement ratios to help ease their burdens, Reuters reported. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, rose 0.4 percent —though that follows Tuesday’s 2.1 percent fall.

Source : CNBC

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Dow drops for 6th day, erases 2018 gain as trade fears escalate

U.S. stocks closed lower on Tuesday, after President Donald Trump threatened to slap tariffs on up to $ 400 billion worth of China goods, the latest escalation in a trade dispute that has been unsettling investors for months.

The Dow Jones Industrial Average fell 1.2% to 24,669. The blue-chip average, which is closely correlated to trade issues as it is primarily made up of huge multinational stocks, suffered its biggest one-day drop since May 29. That was enough to completely erase its 2018 gains; it is now down 0.1% for the year. Tuesday also represented the Dow’s sixth straight daily drop, its longest such streak since March 2017.

The S&P 500 fell 0.4% to 2,762. The Nasdaq Composite Index fell 0.3% to 7,726. Among specific stocks, Boeing Co. tumbled 3.8% while Caterpillar Inc. was down 3.6%. 3M Co. shed 2.4%.

Source: Marketwatch

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