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US stocks rise modestly amid trade war worries

US stocks rise modestly amid trade war worries

NEW YORK: Wall Street stocks rose modestly in early trading Tuesday as worries about burgeoning trade conflicts kept a lid on investor enthusiasm.

About 15 minutes into trading, the Dow Jones Industrial Average stood at 24,278.77, up 0.1 percent.

The broad-based S&P 500 gained 0.2 percent to 2,722.49, while the tech-rich Nasdaq Composite Index advanced 0.5 percent to 7,570.89.

US stocks fell sharply on Monday on worries President Donald Trump would soon enact new restrictions on Chinese investment in the US, escalating tensions between the two countries.

Stocks recovered some of those losses late in the session following reassuring remarks from Trump trade advisor Peter Navarro. But investors remained skittish early Tuesday, analysts said.

General Electric surged 6.8 percent as it announced plans to divest its healthcare business and separate itself from the Baker Hughes oil services company of which it owns a majority stake.

The industrial giant, which was removed from the Dow Jones index in a transition that took effect on Tuesday, said the new design would make it “simpler and stronger.”

Copyright AFP (Agence France-Press), 2018

Source: Brecorder

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