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The Closing Bell: Stocks Trade Higher As Investors Look Past Intensifying U.S.-China Trade Fight
FYI: U.S. stocks rose Tuesday, with investors shrugging off escalating trade tensions to instead focus on an economy that remains strong by many measures. The gains were led by consumer discretionary and technology shares, two sectors that had slumped in the previous session. The Trump administration’s selection of a lower 10 percent tariff and exclusion of Apple from the list of new tariffs convinced market players that it was going easy and giving U.S. companies enough time to prepare for a changing trade environment.
China’s retaliation only included $60 billion worth of U.S. goods and reduced the level of tariffs it would collect, convincing some that Beijing was running out of options to hit back.
