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Wall Street opens steady despite customs exemptions approved

2019-09-11 02:25 pm | Resource: News | No Views : 21

 Wall Street opens steady despite customs exemptions approved

US stocks opened steady on Wednesday despite China's announcement earlier in the day that it would exempt a number of US goods from its tariffs as a "goodwill gesture", including lubricants and whey base.

In other news, the Organization of Petroleum Exporting Countries (OPEC) said in a report that global oil demand growth in 2019 will be 1.02 million barrels per day and adjusted its forecast for global economic growth to 3% in 2019 and 3.1% in 2020.

Investors also followed the release of US PPI data ahead of the bell and awaited data on wholesale inventories and EIA oil inventories due later today.

US producer prices rise 0.1% in August

On the data front, US PPI rose by 0.1% in August from the previous month, according to a report released by the US Bureau of Labor Statistics on Wednesday. On a non-adjusted annual basis, producer prices rose 1.8% last month compared to the previous twelve-month period.

The increase is attributed to the 0.3% rise in the final demand services index. On the other hand, final demand commodity prices fell 0.5% month-on-month in August.

Final demand prices excluding food, energy and commercial services rose 0.4% from the previous month and 1.9% year on year.

Trump to meet with advisers to discuss capital gains tax cuts

US President Donald Trump will meet with his advisers later in the day to discuss cutting capital gains taxes, media reported on Wednesday, citing sources familiar with the matter. The sources said the move would be implemented by indexing capital gains taxes on inflation. They said the meeting would also focus on broader tax cut proposals.

Treasury Secretary Stephen Mnuchin raised the issue of capital gains tax cuts in July. According to a New York Times report, the tax cuts will be $ 100 billion.

Wall Street Openings
  • The Dow Jones Industrial Average, the Nasdaq 100 and the S&P 500 were flat at the opening bell.


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Best Opportunities, Vision and Technical Analysis for The NASDAQ100 17 April 2019

We offer you the analysis of the NASDAQ 100 index on Wednesday , April 17, 2019 with the most important forecasts for the NASDAQ 100 index in the US market. Time frame Used - four hours The NASDAQ 100 is moving in a bullish direction in the near term. The Nasdaq 100 is still facing resistance and selling pressure around 7670 levels, forming a negative candlestick pattern as the indices…

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