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Market news

11 September 2019

Major US stock indices closed in positive territory

The main US stock indexes rose significantly, as China's efforts to ease trade tensions with the United States reassured investors, while Apple (AAPL) stocks rose significantly after the launch of new products.

China's Treasury Department announced this morning that it would release 16 additional US goods from additional tariffs ahead of a planned meeting between the negotiating teams of the two largest economies in the world next month. Although this move is seen as a friendly maneuver to soften relations with the United States, analysts are not convinced that this is a turning point in a trade war that has damaged the global economy.

Apple's stock price (AAPL) jumped 3.18% after the company introduced three new iPhones the day before along with a new Apple Watch and streaming video service with a lower subscription cost than Disney (DIS) and Netflix (NFLX).

Further growth, however, was constrained by expectations of central bank incentive decisions to stop the global slowdown. The US Federal Reserve and the European Central Bank are expected to cut rates at their meetings over the next two weeks.

Investors also studied inflation data. A Labor Department report showed that US producer prices rose slightly in August. According to the report, producer price index for final demand rose in August by 0.1% after rising by 0.2% in July. In the 12 months to August, the producer price index rose 1.8% after rising 1.7% in July. At the same time, excluding food, energy and trade services, producer prices jumped 0.4% last month after falling 0.1% in July, the first decline since October 2015. The so-called core producer price index for the 12 months to August rose 1.9% after rising 1.7% in July.

Most DOW components completed trading in positive territory (21 out of 30). The biggest gainers were The Boeing Co. (BA; + 3.64%). Outsiders were shares of International Business Machines Corporation (IBM; -1.00%).

All S&P sectors recorded an increase. The consumer goods sector grew the most (+ 1.3%).

At the time of closing:

Dow 27,137.04 +227.61 + 0.85%

S&P 500 3,000.93  +21.54 + 0.72%

Nasdaq 100 8,169.68 +85.52 + 1.06%

Market Focus
  • BOJ keeps policy steady, signals chance of easing in October
  • UK retail sales fell slightly in August
  • Fed lowers interest rates by 25 basis points, as expected
  • SNB leaves policy rate unchanged at -0.75%

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