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Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Stock market news: August 13, 2019

Stock market news: August 13, 2019



U.S. Stocks jumped after the Trump administration announced it would delay tariffs on some commodities from China beyond the deadline of September 1. The news also sent bond yields higher, following the curfew relieved more than a decade earlier in the session.

Here are the major market moves, as of 10:32 am ET:

  • S&P 500 (^ GSPC): + 1.96%, or 56.39 points

  • Dow (^ DJI): + 1.94%, or 503.34 score

  • Nasdaq (^ IXIC): + 2.22%, or 174.57 points

  • 10-year Wealth yield (^ TNX): +7.5 bps at 1.715%

  • US dollar up to onshore Chinese yuan rate (CNY = X): + 0.0992% to 7.0647

The US Trade Representative's Office announced on Tuesday that products including "cell phones, laptop computers, video game consoles, some toys, computer monitors, and some clothing and clothing items ”will not be subject to a 10% tariff until December 15. Initially, President Donald Trump announced at the beginning of August that he would impose a 10% tariff on $ 300 billion worth of Chinese imports beginning September 1, which may include many of these items.

"Some products have been removed from the tariff-based tariff list security, security, national security and other factors and will not face additional tariffs of 10 percent, "USTR said in a statement.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Apple Shares ( AAPL ) led the Dow higher, with iPhone-maker stock rising 4.5% after the USTR Declaration. "Data-reactid =" 25 "> Apple shares (AAPL) topped the Dow higher, with iPhone-maker stock up more than 4.5% after the USTR announcement.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The announcement came after Chinese national vice president Liu He spoke with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin over the phone on Tuesday night, & nbsp; according to China's state-run media agency Xinhua . Both sides agreed to make another call within two weeks following discussions, reportedly focusing on 10% tariffs on $ 300 billion worth of Chinese goods, "data -reactid = "26"> The announcement came after Chinese vice-president Liu He spoke with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Tuesday night, at a Chinese state-run media agency. Xinhua . Both sides agreed to make another call for two weeks following discussions, reportedly focusing on 10% tariffs on $ 300 billion worth of Chinese goods,

Earlier on session, falling bonds and a contraction between closely-watched 10-Year and 2-year yields sent contracts to three major stock indices lower, before the USTR announcement triggered a resurgence of equality. Even after the news, the short-term yields rose more than those at the longer end of the curve.

Traders work on the floor at the New York Stock Exchange (NYSE) in New York, US, August 12, 2019. REUTERS / Eduardo Munoz [19659014] More

Uncertainty about the global outlook has also added to investor jitters, with geopolitical mounting rage everywhere from Latin America to Asia.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The Argentine peso has fallen to a record low to nearly 60 per dollar Monday and remained weaker than 50-per-dollar in Tuesday's session, after center-right President Mauricio Macri was made worse than expected in the primary election in the e. leader of the more friendly market sent equities of Argentina, with the Global X MSCI Argentina ETF ( ARGT ) down more than 24% Monday before giving some losses on Tuesday morning. " Data-reactid = "40"> The Argentine peso fell to a record low of almost 60 per dollar Monday and remained weaker than 50-per-dollar in Tuesday's session, after middle-right President Mauricio Macri performed worse than expected in the primary elections by the end of the lin ggo. Poor performance of the leader of the more resource market sent the Argentine armed equities, with the Global X MSCI Argentina ETF (ARGT) down more than 24% Monday before giving some losses on Tuesday morning.

Meanwhile, People's Bank of China fixed its yuan at 7.0326 per dollar on Tuesday, marking the fourth straight session with currencies weaker than the 7-per psychological level – dollars. However, this is even stronger than what consensus analysts expect, according to computers compiled girlfriends. The yuan against the US dollar remains a closely monitored currency pair after the Treasury Department officially designated China as a currency manipulator last week, amid ongoing trade war with the US

In Hong Kong, flights were canceled outside Hong Kong International Airport for a second consecutive day as protesters reached pro-democracy in the global transport hub. It marked the fifth straight day that activists flooded the airport, with sit-ins starting at one of the busiest commuter centers in the world starting Friday.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Shares of Cathay Pacific ( 0293.HK ), a Hong Kong-based airline, fell 2.5% Tuesday on the Hong Kong Stock Exchange, expanding Monday's decline.The airline said over the weekend it would assist the Chinese aviation authority prohibiting staffers who supported Hong Kong protests from flying to northern Mainland China. "data-reactid =" 56 "> The shares of Cathay Pacific (0293.HK), a Hong Kong-based airline , fell 2.5% Tuesday on the Hong Kong Stock Exchange, expanding Monday's decline. The airline said this weekend it would cooperate with China's aviation authority banning staff who supported Hong Kong protests from flying to northern Mainland China.

Thousands of Hong Kongers have been galvanized to demonstrate against some Hong Kong policies and police activities. The protests now take about eleven weeks, after preliminary demonstrations sparked a government proposal for an extradition bill that would allow criminal suspects to overland China for trials. While Beijing condemned the demonstrations and threw support to the Hong Kong government to contain protesters, the Chinese government did not begin military action in Hong Kong, which many observers said would be considered a step further moving further into Hong Kong's semiautonomy.

Consumer prices plummeted in July

Meanwhile, new economic data released on Tuesday emphasized a slight increase in pressures in the US, with consumer prices rising line with expectations for July.

Leading the Bureau of Labor Statistics was the consumer price index (CPI) up 0.3% month-on-month in July, as expected. Over the last 12 months, consumer prices rose 1.8%, slightly above the 1.7% increase expected and up 1.6% in June, driven by a rise in gas and housing prices.

Except for more volatile food and energy prices, the CPI rose 0.3% month-on-month and 2.2% year-on-year in July, slightly ahead of the unchanged 2.1% pace from expectations by June. This is the second consecutive month that so-called "core" CPI rose 0.3% on a monthly basis.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "While the CPI is not the Federal proposal Reserve, which is often viewed as inflationary, provides another measure of consumer price fluctuations.The July results confirmed the latest & nbsp; personal agreements. ) index index – the Fed's preferred measure of inflation – which showed strong inflation for June. "data-reactid =" 66 "> While the CPI is not the Federal Reserve that is often watched by the inflation proposal, it provides this is another measure of consumer price fluctuation. The July results strengthened the latest personal consumption expenditures (PCE) price index – the Fed's preferred measure of inflation – that showed strong inflation for June.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Emily McCormick is a reporter for Yahoo Finance. Follow him on Twitter: @emily_mcck "data-reactid =" 68 "> Emily McCormick is a reporter for Yahoo Finance. Follow him on Twitter: @emily_mcck

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text "content =" Read more from Emily: "data-reactid =" 69 "> Read more from Emily:

<p class =" canvas-atom canvas -text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Follow Yahoo Finance on Twitter Facebook [19659028] Instagram Flipboard LinkedIn at reddit . "data-reactid =" 76 "> Follow Yahoo Finance on Twitter Facebook Instagram Flipboard LinkedIn and reddit .

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Read lat est news on finance and business from Yahoo Finance "data-reactid =" 77 "> Read the latest financial and business news from Yahoo Finance


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