American stocks pick up their breath despite the continued customs fees
High American stock indicators
The Dow Jones Industrial Index and the Standard & Poor’s 500 index increased by 1.1% for each of them, while the Nasdaq index added the boat 1.4%, as the shares recovered from a slow start during the session.
The main indicators recovered after two consecutive days of sharp losses amid concerns about the possible effect of the recently imposed customs duties and concerns about the health of the American economy.
Shares of auto manufacturers
The shares of the auto manufacturers, which are expected to be severely damaged by customs duties, increased after the White House announced that some customs duties on the auto industry will be delayed for a month.
Also read: Global stock markets shake after Trump’s commercial decisions
The shares of “General Motors” and “Ford” increased by about 6 % for each of them, while the “Stellantis” manufacturer of Jeep and Kirisler cars increased by 9 %, while “Toyota Motor” added approximately 7 %.
American negotiations, Canada and Mexico
US Trade Minister Howard Lottenic said during an interview with Fox Business channel that President Donald Trump had discussions with Mexico and Canada officials.
The United States imposed 25 % customs duties on imports from Mexico and Canada while the Chinese import tax doubled to 20 %.
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Lootnick’s comments came at a time when Trump defended a speech to Congress about customs definitions as an important factor of job opportunities and increased revenue.
Fears of inflation
Critics say that commercial measures will lead to increased inflation and disruption of economic activity and harm companies that run their business all over the world, especially since other countries are taking retaliatory steps.
Technology companies shares
The shares of technology companies of huge market value increased with gains of about 3% for “Microsoft” and “Broadcast”, the giant of the chips industry, which is scheduled to issue a quarterly results after the closure bell Thursday.
It also achieved “Envenia”, “Amazon”, “Alphabet”, “Meta” and “Tesla” gains, while Apple’s share decreased slightly.
Land “Crowd Strik”
The shares of “Craoud Strike” fell by more than 6%, which led to a decrease in the shares of the S & B500 and Nasdak, after the cybersecurity provider issued expectations that came less than the expectations of analysts.
While the share of the company “Microsttesty”, one of the largest bitcoin holders in the world, jumped 11% to lead Nasdak’s gains with the high digital currency. The encrypted currency exchange increased by 5%.
Bitcoin was traded at 90,400 dollars, up from the lowest level at 86,300 dollars.
What analysts say?
Ross Mayveld, an investment strategy analyst in “Bird”, said that traders believe that “the administration will respond to the pressure of the market, which may revive the American stock market during the coming period,” adding that the White House will “work hard” to amend the policy as needed.
“Investors can deal with the recent uncertainty about customs duties by searching for companies with stable profits that will not witness great fluctuations in their shares,” said David Costin, a chief American stock strategy in Goldman Sachs.
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