US Stocks Rise After White House Signals Tariff Delay on Mexican Imports

Wall Street’s main indexes added to gains in a choppy session on Thursday, as investors showed some optimism on trade after Bloomberg reported that the United States is considering delaying imposing tariffs on Mexican imports.

The report cited unidentified sources saying that U.S. President Donald Trump could delay the tariffs he had threatened to put on Mexican goods as soon as Monday.

This gave investors some hope. But Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey, was cautious.

“When you have a fluid situation like this in terms of the tariffs, it calls for caution and patience on the part of investors,” said Krosby.

At 3:17 p.m. ET, the Dow Jones Industrial Average rose 161.08 points, or 0.63%, to 25,700.65, the S&P 500 gained 16.44 points, or 0.58%, to 2,842.59 and the Nasdaq Composite added 31.07 points, or 0.41%, to 7,606.54.

The S&P 500 was on track to register the third straight session of gains for the first time since mid-May.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza