Advertisements

Stocking Stuffers

 

Today's Market News News

Related Symbols:  CAT 

Related Topics:  


 May 14, 2019 - 10:24 AM EDT
Print Email Article Font Down Font Up
Dow Rebounds from Steep Drop

Dow Rebounds from Steep Drop

Stocks rose on Tuesday, regaining some of the lost ground following a steep selloff in the previous session, as investors weighed the impact of the escalating trade war between the United States and China.

The Dow Jones Industrials vaulted 148.69 points to 25,473.68, led by a gain in Coca-Cola shares.

The S&P 500 regained 18.74 points to 2,830.61, as tech shares outperformed.

The NASDAQ Composite re-strengthened 50.26 points to 7,697.29

In a note to clients Monday, Citi said its China economists are "cautiously optimistic that a trade deal can eventually be signed." But added that the "window to avoid further escalations in U.S./China tensions is closing fast."

Stocks doing business in China got hit the hardest. Apple, Intel and Caterpillar have all stumbled more than 10% in the six trading days since Trump's surprise tweet announcing the higher levies.

Coca-Cola shares rose 2.4% after Morgan Stanley upgraded it to overweight from equal weight. The bank named the soda maker its “top mega-cap staples pick.”

Prices for the benchmark 10-year U.S. Treasury slid, lifting

yields to 2.41% from Monday's 2.4%. Treasury prices and yields move in opposite directions.

Oil prices recouped 55 cents to $61.59 U.S. a barrel.

Gold prices subtracted $2.90 to $1,298.90 U.S. an ounce.


Source: Livemoney (May 14, 2019 - 10:24 AM EDT)