- Stockpiles On Thursday, it was closed after the outlines of a commercial deal for the United States of America that reduce the definitions, giving investors hope to reach more deals and avoid recession.
The stock markets rose on Thursday after the White House shared the outlines of a commercial deal with the United Kingdom. The first such deal after President Donald Trump pressed the pause of mutual definitions with the world a month ago, Wall Street gave hope that the United States would be able to continue trade negotiations and hope to avoid recession.
S&P 500 and Dow closed 0.6 %, after an increase of 1.3 % earlier in the day. Heavy technology Nasdak 1.1 % increased.
Bitcoin It rose to 101,500 dollarsCrude oil prices rose, while the price of gold decreased as investors felt the need for safety.
the deal It maintains a 10 % foundation tariff for UK imports, but it reduces duties on cars, steel and aluminum. On the other hand, the UK promised to buy more beef and ethanol in the United States and decrease import taxes on 2,500 American products.
“A commercial agreement – even if it is an agreement in principle – is what the markets aspire to see,” said Chris Zakarili, the chief investment official in North Light Asset Assets.
Trump talked about the deal, which implicitly will be the first of many. “It is better to go out and buy stocks now,” he told reporters at the Oval Office.
It also disturbed the US -Chinese commercial negotiations scheduled At the end of this weekHe said he expected to be “objective”. He said, “For the time time, you can’t get anything higher. It is in 145. So we know it is going down,” he said.
Elsewhere, strong profit reports from a variety of companies helped increase the S&P 500 level. textureThe fashion brand coach owns, Kate Speed, Westwart, and Whitzman, increased by 3.7 % after reporting better sales and profits than expected thanks to attracting more young customers. Axon EnterpriseThe Taser maker gained 14.1 % on strong growth and enhanced revenue expectations.
Despite the confidence between Consumers And the heads of executives, the economy has so far proven flexible with 177,000 jobs Last month was added just as the customs tariff was announced, as fixed applications and low unemployment were announced.
However, car manufacturers issued a warning through the American Automobile Policy Council (AAPC), which represents Ford Motor a company, General MotorsAnd Stelantis. In a statement, the chairman of the council indicated that the American auto industry is still “very integrated with Canada and Mexico; they are not true for the United States and the United Kingdom.”
“We are disappointed that the administration gave the United Kingdom before our North America partners,” said Matt Blant. “Under this deal, it will now be cheaper in importing a vehicle in the UK with a little American content of the USMCA compatible with Mexico or Canada, which is half American parts.”
Planet said that car manufacturers, suppliers and American auto workers.
“We hope that this preferential access to cars in the UK on North America will not be a precedent for future negotiations with Asian and European competitors,” said Blant.
This story was originally shown on Fortune.com
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