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12-Sep2018

US markets end higher on Tuesday

The US markets ended in green on Tuesday with the Dow climbing by over 100 points, as energy and telecommunications rallied. Telecommunications were among the best performers while the energy sector got a lift from strong crude oil prices. Tech shares were also notable gainers with megacaps Apple, Facebook, and Microsoft Corp all rising sharply. The gain for Dow component Apple came a day ahead of the company's annual iPhone event, which could also see the company announce upgrades to other products, including a likely debut for a new version of the Apple Watch.

However, there was cautiousness in the markets as investors continued to watch the situation between the US and China after President Donald Trump recently threatened China with fresh tariffs. The latest move by Trump would impact an additional $267 billion in Chinese goods, coming on top of an already-proposed $200 billion in tariffs. China has vowed to retaliate and plans to ask the World Trade Organization next week for permission to impose sanctions on the US for Washington's noncompliance with a ruling in a dispute over US dumping duties.

Dow Jones Industrial Average rose 113.99 points or 0.44 percent to 25971.06, the S&P 500 added 10.76 points or 0.37 percent to 2887.89 and Nasdaq was up by 48.31 points or 0.61 percent to 7972.47.


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