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US stocks open higher on Friday as trade concerns eased

2019-09-20 02:36 pm | Resource: News | No Views : 19

 US stocks open higher on Friday as trade concerns eased

US stock markets began the last trading session of the week slightly higher after the media reported that Washington is ready to grant temporary tariff exemptions to 437 Chinese products.

At the same time, another report claimed that the United States would not remove import tariffs on auto parts made in Japan as part of the expected trade agreement. In business news, Apple launched. The new iPhone 11 series worldwide.

 Fed Rosengren opposed the cut

Eric, chairman of the US Federal Reserve Bank in Boston, opposed the rate cut on Thursday, saying monetary stimulus carries risks in itself.

"There is no need for additional monetary stimulus for an economy where labor markets are already tight, risking inflating risky asset prices and encouraging families and businesses to take on a lot of leverage," Rosengren said. "Although there are clear trade risks and geopolitical concerns, cutting interest rates to address uncertainty is not too expensive."

Fed member Klida: not seeing the risks of financial stability are high

Federal Reserve Vice Chairman Richard Clarida said on Thursday that there is currently no high risk to financial stability, noting that the US economy is in a "good place."

The central bank cut interest rates by 25 basis points on Wednesday, citing "global developments in economic outlook as well as silent inflation pressures" as the main factor influencing the decision. Rosengren was one of three Fed chiefs who voted against the rate cut.

US stock openings
  • The Dow Jones Industrial Average rose 0.08% at the opening bell, with Pfizer rising 1.62%.
  • The S&P 500 gained 0.05% as Boeing grew. By 1.69%.
  • The Nasdaq 100 was flat at the same time, with Incyte Corp rising 2.66%.

The euro was down 0.22% against the dollar at 9:29 am GMT to close at 1.10169, while the pound fell 0.36% to $ 1.24781 at the same time.


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