- 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: "It is good if some of the tariffs are pushed back. I would point out not all of them are pushed back. The reason the Trump administration is doing this is to try to help the consumer for the Christmas season. Obviously, the two important groups there, as you mentioned, were really electronics and cell phones. That's why semiconductors are having such a good move, but it still doesn't fix the main problem, which is corporate America does not know the rules they are operating under. This is making capital allocation decisions very hard. You're still in that situation, and until corporate America gets clarity what the actual rules are, it's hard to see how business spending is going to really increase here."
- 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: LVA004AS1YQOD
- 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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