Wall Street opens higher despite trade war, Dow up 100 points

Dienstag, 28. Mai 2019 15:30

United States stocks opened in the green on Tuesday in spite of the continuing trade war between China and the United States. Chinese media reported that China is looking into restricting rare earth exports, including tungsten and molybdenum, to the US as part of its countermeasures against the latter's products. JPMorgan Chase CEO Jamie Dimon also sounded a note of caution earlier in the day and stated that the months-long trade dispute between the two countries is becoming a "real issue" with the potential to hurt corporate confidence and deter investment. In addition, economic data that was released for house prices in the US showed that prices grew by 3.7% in March compared to the previous month's 3.9%.

The Dow Jones Industrial Average was up 0.21% at the opening bell led by the Boeing Co's gains while the Nasdaq 100 rose 0.35% on the back of Activision Blizzard Inc's stock, which jumped 4.56%. The S&P 500 gained 0.15% at the same time thanks to a strong showing by Total System Services Inc, which skyrocketed 13.88%.

The euro and the pound were both almost flat against the greenback, changing hands for $1.11920 and $1.26801 respectively.

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