Wall Street posts third day of gains as trade fears ease

Wall Street posts third day of gains as trade fears ease

Wall Street posts third day of gains as trade fears ease

Negative sentiment in the stock market was fueled after President Trump threatened another $100 billion of tariffs on China imports.

Automakers Ford, General Motors, Fiat Chrysler and Tesla fell between 2 percent and 4 percent.

Stocks start lower but have pared opening bell losses and nowhere near the bloodbath levels indicated by the futures markets overnight; Dow -0.4%, S&P -0.3%, Nasdaq -0.2%.

Technology companies, banks and industrial stocks were falling the most in midday trading Friday.

The Dow fell 588 points, or 2.4 percent, at 23,909.

Stocks are falling again as trade tensions heat up between the US and China.

Читайте также: China Responds To Trump Administration's Latest Tariff List

President Donald Trump's administration spent the past few days reassuring investors that it's not rushing into a trade war, and China's government has done the same.

Amazon rose 2.9 percent after being repeatedly hammered this week by Trump's attacks on the online retailer.

European markets have turned mixed, with Germany's DAX -0.4%, France's CAC -0.1% and U.K.'s FTSE +0.1%; in Asia, Japan's Nikkei finished -0.4% while China's Shanghai Composite was closed. Another 41 percent of S&P 500 stocks are down between 10 and 20 percent from their year highs, a range that investor consider correction territory. Shares of Boeing, the single largest USA exporter to China, tumbled 4.6 percent. Employers added 103,000 jobs last month, the weakest showing in months, and January and February's numbers were also revised lower.

Bond prices rose, sending yields lower. Natural gas rose 3 cents to $2.70 per 1,000 cubic feet. Copper fell 2 cents to $3.06 a pound.

Eight of the 11 major S&P sectors were lower, led by a 0.6 percent drop in financial stocks as the case for further rate hikes dimmed after soft jobs data.

When stocks were getting bombarded with bad news on trade, tech privacy lapses and interest rate fears, Wall Street was holding out hope the USA market could defend a key line of defense that had been in place for 442 trading days.

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