NEW YORK: Wall Street stocks rose in early trading Tuesday, with the S&P 500 pushing near a record, as the US signaled it could delay a closely-watched decision to impose new tariffs on autos.
About 15 minutes into trading, the Dow Jones Industrial Average stood at 25,848.12, up 0.4 percent.
The broad-based S&P 500 rose 0.3 percent to 2,866.16, while the tech-rich Nasdaq Composite Index added 0.4 percent at 7,848.70.
Commerce Secretary Wilbur Ross told the Wall Street Journal he would hold off on a final decision on whether to impose tariffs on auto imports while trade talks with Mexico, Canada and Europe are ongoing.
The proposed tariffs are among President Donald Trump’s most controversial ideas since he began pushing aggressive trade policies this year.
Ross’ comments come as trade talks are also set to this week between US and Chinese officials, raising the prospect to defuse the spiraling trade dispute between the world’s largest economies. Anticipation around the talks has boosted stocks the last three sessions.
Source: Brecorder
