China, Wall Street and Trump
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Wall Street ended mixed on Tuesday as investors digested mostly positive quarterly results from big U.S. banks, comments from Federal Reserve Chair Jerome Powell and an ongoing U.S.-China trade war. The S&P 500 turned lower after U.
US stocks jumped Monday in a broad rebound, bouncing back from Friday's rout after President Trump played down the escalating US trade standoff with China and said it "will all be fine!" Stocks recouped some of Friday's hefty losses after Trump dialed back his Friday threat to impose an additional 100% tariff on Chinese goods from Nov.
The S&P 500 plunged 2.7% on Friday after Trump threatened an additional 100% levy on good imported from China, upending a months-long streak of tranquility in US stocks. Dip buyers returned Monday after the White House signaled openness to a trade deal and China’s Ministry of Commerce urged further negotiations to resolve outstanding tariff issues.
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Analysts are still doubling down on market leaders, with fresh upgrades for Advanced Micro Devices, Walmart, Amazon, and Meta Platforms. Look at Advanced Micro Devices Just this morning, analysts at Mizuho reiterated an outperform rating on Advanced Micro Devices (NASDAQ: AMD) with a price target of $275 from $205.
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WALL Street ended mixed on Tuesday as investors digested mostly positive quarterly results from big US banks, comments from Federal Reserve Chair Jerome Powell and an ongoing US-China trade war. Read more at The Business Times.
Trump's said his new tariffs and export curbs would take effect on November 1 and threatened to cancel a meeting with Chinese President Xi Jinping later this month in South Korea.