(Reuters) – The New York Stock Exchange opened up on Monday, supported in particular by steel groups after US President Donald Trump said that he would impose additional customs duties on steel and aluminum imports to The United States.
In the first exchanges, the Dow Jones index earns 246.88 points, or 0.56% to 44,550.28 points, and the Standard & Poor’s 500, wider, increased from 0.51% to 6,056.44 points.
The Nasdaq Composite takes 0.69%, or 135.43 points, at 19,658.83 points.
Investors keep their heads cold in the face of the risk of a large-scale trade war after the American president announced on Sunday that he would impose additional customs duties of 25% on imports of steel and aluminum to the States- United.
Donald Trump’s plans, which is expected to be specified on Monday, increase the actions of American producers, unlike their foreign rivals which are retreating due to the fears of a disturbance of flows and a reduction in demand.
The actions of American steel and aluminum manufacturers climb after the announcements of President Donald Trump on customs duties: Nucor, US Steel and Cleveland-Cliffs increase between 15% and 4% at the opening, while Century Aluminum Takes 12% and Alcoa 3.5%.
Us Stell also advances thanks to the comments of the secretary general of the Japanese firm, Yoshimasa Hayashi, who said that the Japanese group Steel 5401.T envisaged a change of plan compared to its initial approach with a view to buying the American steelmaker.
Donald Trump must also announce reciprocal customs duties to all the countries concerned on Tuesday or Wednesday, with an almost immediate entry into force.
“The risky assets are a bit desensitized when Trump’s customs duties announce,” write Jefferies analysts in a note, adding that these measures constitute a negotiation tool and will not be as bad as what the We feared.
Customs prices, widely considered to be inflationary, are however a source of concern at a time when betting on a drop in rates of the federal reserve are falling. Last Friday, a report showing a slight decrease in unemployment in the United States has further reduced expectations of rate drop this year to 36 base points, compared to 42 base points before.
The president of the FED, Jerome Powell, will be addressed at the American Congress on Tuesday and Wednesday, and the impact of customs duties will undoubtedly occupy an important place in his speeches, just like the figures of CPI inflation which will be published on Wednesday .
On the front of business results, McDonald’s takes 4.5%, despite a larger than expected decrease in its quarterly sales in the United States while demand was affected by a brief E.Coli epidemic.
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(Written by Diana Mandiá)
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