MOSCOW, 6 Aug — PRIME. The major US stocks are rising on Tuesday after a sharp decline by 3-4% a day earlier because of the escalating trade conflict between the US and China, according to data exchanges.
As at 17.18 GMT the Dow Jones index grew by 0.29% to 25791,85 points, the index high-tech NASDAQ companies — 0.69%, to 7779,45 points, the index of wide market S&P 500 — by 0.34% to 2854,38 points.
Main US stock indexes grow in the correction on the stabilization of the exchange rate of the yuan, which a day earlier reached the lowest level since December last year. On Monday, the Bank of China on the background of the U.S. decision to impose new duties at 10% on goods from China dropped the yuan to the dollar, which has led to increased fears of investors concerning the development of trade relations between the US and China.
“The fact that China has stabilized its currency, giving investors some hope that this will not turn into a more serious problem. Any positive response to one of the parties, which implies a willingness to negotiate will be received by the investors really well,” said Reuters partner Cherry Lane Investments mechler Rick (Rick Meckler).
In addition, the index supports the growth of stock prices of technology companies. So, Apple shares are getting more expensive by 1.4%, after three days of declines as trade conflict. A day earlier, the Corporation’s shares depreciated by 5.3%.
Read more •••