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US stocks remain stable and the US is delaying tariffs

2019-03-05 03:15 pm | Resource: NEWS | No Views : 153


 
Markets opened in the United States on Tuesday as investors focused on the US Trade Representative's announcement that Washington would delay hiking tariffs on Chinese imports from 10% to 25% "until further notice." Market watchers also followed Targit's earnings announced earlier in the day. It also expected a series of economic data and Fed speeches set later in the day.

Pompeo: The United States will not accept less than a perfect Chinese trade deal

President Donald H. Trump will not accept any trade deal with China that is not ideal, US Secretary of State Mike Pompeo said in an interview with the Sinclair Broadcast Group on Tuesday.

"The president is determined to make sure that he protects his first client and his first commitment to the American people - in this case, the American farmer - that should work for America." If that does not work, we will continue to move away. But he remains confident that the Washington talks Trade with Beijing will eventually lead to the "right result" as negotiations with China "look good."

Earlier, the media reported that the United States and China can reach a trade agreement before the end of the current month, as Beijing is ready to take protection measures on agricultural and chemical products, automobiles and other products from the United States and Washington is ready to consider the elimination of most tariffs on Chinese goods . The future of the deal remains uncertain as Pompeo warned on Monday that the talks could "collapse at the last minute."

New home sales drop

On the data front, new home sales in the US fell by 3.7% in December

Where single-family home sales in the US fell by 3.7% in December, with a seasonally adjusted 621,000 compared to the previous month, the US Census Bureau and the Ministry of Housing and Urban Development said Tuesday. Year-on-year, new home sales fell 2.4%.

The average price of new home sales was $ 318,600, while the average price was $ 377,000. The seasonally adjusted estimate of new homes for sale at the end of December was 344,000. The figure represents a 6.6 month supply if sales remain unchanged.

US Stocks Open
  • The Dow Jones Industrial Average was down 0.06%. The main loser was 3M, down 0.53%.
  • The S & P 500 remained almost flat, down 0.01%. Target stocks jumped about 5% after reporting strong corporate results.
  • The Nasdaq 100 rose 0.01% at the opening bell.

The Euro was down 0.12% against the US Dollar to trade at 1.1328 at 16:33 CET.


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