Dow Ends Around 250 Points Higher on Global Stimulus Hopes, Easing Trade Fears
Tuesday, 20 August 2019 03:17 WIB |
MARKET UPDATE |DOW JONESS & P 500SahamAS
Stocks ended sharply higher Monday, further paring their August pullback as investors cheered talk of additional stimulus from global policy makers and a respite from negative trade-war headlines.
The Dow Jones Industrial Average rose around 250 points, or 1%, to end near 26,136, according to preliminary figures, while the S&P 500 advanced around 35 points, or 1.2%, to close near 2,924. The Nasdaq Composite advanced around 107 points to end the day near 8,003, a gain of 1.4%. Analysts said trade concerns were soothed after the Commerce Department gave Chinese telecom giant Huawei Technologies Co. another 90-day reprieve during which it can continue doing business with U.S. companies. Support was also tied to a move by the People's Bank of China to overhaul its interest-rate mechanism, which economists said would pave the way to lower borrowing costs for businesses. Also, Berlin indicated it was willing to employ fiscal stimulus if Germany's economy continues to slow.
Source : Marketwatch
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