US stocks move higher premarket, Dow adds 100pts

Monday, 20. May 2019 10:23

United States stock markets traded with gains in Monday's premarket session despite new concerns surrounding the increasingly strained relationship between the US and China. Earlier, American tech giant Google suspended business with China's Huawei and cut it off from its services, only days after the US blacklisted the firm over espionage concerns. However, Google confirmed that existing Huawei devices users will, at least for now, be allowed to use continue to use "Google Play and the security protections from Google Play Protect."

On the upside, US President Donald Trump signed proclamations to end tariffs on steel and aluminum from Canada and Mexico, after the three countries managed to successfully negotiate satisfactory alternative means" to address the "threat to national security" that the imports posed.

The Dow Jones rose 0.40%, or 104 points in the premarket session, while the Nasdaq 100 gained 0.29%. Meanwhile, the S&P 500 advanced 0.35% before the opening bell. The euro was 0.07% higher against the dollar to sell for 1.1165 at 4:21 am ET.

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