- Title: Wall St rises on U.S. delay of some Chinese import tariffs
- Date: 13th August 2019
- Summary: NEW YORK, NEW YORK, UNITED STATES (AUGUST 13, 2019) (REUTERS) (SOUNDBITE) (English) WILLIAM O'NEIL & CO., CHIEF INVESTMENT STRATEGIST, RANDY WATTS, SAYING: "I think the Viacom - CBS deal is a sign that the media industry continues to get tougher and more competitive, and scale is important. When you look at a company like Disney buying in a lot of the entertainment assets, Fox, you know, a year or so ago. If Disney feels it has to scale up, I think that's really a message to everyone that they have to scale up. And the reason that's important is, for spending you have to have a critical mass of budget to spend for new content to compete with people like Amazon, Netflix, and Disney, who have very deep pockets. I don't think this is the last major media merger we are going to see over the next year."
- Embargoed: 27th August 2019 21:09
- Keywords: tariffs S&P 500 NYSE William O'Neil New York Stock Exchange China trade Randy Watts Nasdaq markets Dow Jones closing bell
- Location: NEW YORK, NEW YORK, UNITED STATES
- City: NEW YORK, NEW YORK, UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA006AS1YQOD
- Aspect Ratio: 16:9
- Story Text: U.S. stocks closed higher on Tuesday (August 13) after an announced delay of planned tariffs on select Chinese imports brought buyers back to the equities market in a broad-based rally.
The Dow Jones Industrial Average rose 307.78 points, or 1.19%, to 26,215.15, the S&P 500 gained 38.81 points, or 1.35%, to 2,922.56 and the Nasdaq Composite added 152.95 points, or 1.95%, to 8,016.36.
(Production: Aleksandra Michalska)
- Copyright Holder: REUTERS
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