(Reuters) – The New York Stock Exchange opened up on Tuesday after the new comments by Donald Trump suggesting a relaxation of customs duties in the automotive sector.
In the first exchanges, the Dow Jones index earns 72.37 points, or 0.18%, at 40,597.16 points and the Standard & Poor’s 500, wider, increased from 0.21% to 5,417.29 points.
The Nasdaq Composite takes 0.11%, or 19.32 points, at 16,850.80 points.
The uncertainty about customs duties remains high, but the point of panic could already be exceeded, at least with regard to the automobile, according to Citi. Donald Trump said Monday considering changing the 25% customs duties imposed on foreign cars and car components imported in the United States.
“The tone is positive because the market digests the temporary exemption from customs duties on the automobile from which is discussed and still reacts to the reduction from the electronics sector, even if it is temporary,” said Georgios Leontaris, director of investments for Switzerland and the EMEA region at HSBC Global Private Banking and Wealth.
However, optimism has weakened in the face of information that customs duties on imports of pharmaceuticals and semiconductors could soon be announced.
Investors have been cautious after the Federal Register files showed that Donald Trump administration was investigating pharmaceutical and semiconductor imports.
Recalling that the markets have not yet left the crisis, China has asked its airlines to refuse Boeing deliveries, in response to the United States’s decision to impose customs duties of 145% on Chinese products, Bloomberg reported on Tuesday, citing people familiar with the subject.
At the values, Bank of America won 3.95% after having increased an increase in its profit in the first quarter, the volatility of the markets that stimulated its trading commissions.
Citigroup gained 2.33% after reporting a profit up at 4.1 billion dollar in the first quarter, compared to $ 3.37 billion at the same period the previous year, also stimulated by trading.
(Written by Mara Vîlcu, edited by Kate Entringer)
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