Major US stock indices rose slightly on Tuesday, helped by easing tensions around the Korean peninsula and fading fears over potentially dangerous metal import tariffs proposed by US President Donald Trump.
US Treasury Secretary Stephen Mnuchin said that new import duties would not apply to the supply of steel and aluminum from Canada and Mexico, if the parties could get a revision of the North American Free Trade Agreement (NAFTA). "If negotiations succeed, these fees will not apply to Mexico and Canada," Mnuchin said. Similar statements were made the day before by US President Donald Trump.
In addition, orders for goods produced in the US reportedly recorded the largest decline in six months in January, and equipment costs seem to have slowed after strong growth in 2017. Production orders fell 1.4% due to a wide decline in demand, the Ministry of Commerce said on Tuesday. This was the biggest fall since July 2017 and ended the growth period for five consecutive months.
However, the data showed that the index of economic optimism in the US, calculated by the Investor's Business Daily newspaper and the research firm TechnoMetrica Institute of Policy and Politics, declined moderately in March, and retreated from the 13-year high that was reached in February. The index fell in March by 1.1 points, to 55.6 points, while experts expected it to grow to 58.2 points. Recall, the value of the index above 50 points indicates optimism. It is worth emphasizing that the index is above the level of 50 for 18 consecutive months, which is the longest series for more than a decade.
Most components of the DOW index finished trading in the red (16 of 30). Outsider were shares of Johnson & Johnson (JNJ, -1.20%). Caterpillar Inc. was the growth leader. (CAT, + 1.78%).
Most sectors of the S & P recorded a rise. The conglomerate sector grew most (+ 1.8%). The largest decrease was shown by the utilities sector (-1.0%).
Dow + 0.04% 24,884.12 +9.36
Nasdaq + 0.56% 7.372.01 +41.30
S & P + 0.26% 2,728.12 +7.18
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