Publicado: Mier, Abril 11, 2018
Financiera | Por Marilu Caballero

USA stocks rebound amid softened trade tone

USA stocks rebound amid softened trade tone

The Nasdaq Composite Index rose 35 points, or 0.5%, to 6,950.

Stocks climbed higher and higher in the first hours of trading, and at about 2 p.m. the Dow Jones industrial average was up 440 points.

The FANG group, comprising four closely watched internet stocks: Facebook Inc, Inc, Netflix Inc and Alphabet Inc's Google, were up between 1.1 percent and 3.4 percent.

Investors will look for further signs of China's stance on trade relations when Chinese President Xi Jinping speaks at the Boao Forum economic conference on Tuesday.

THE QUOTE: "Market nerves over trade tensions have seemingly calmed down, given that Trump has sounded optimistic on the prospects of a trade deal with China, notwithstanding Chinese protestations", said Chang Wei Liang, analyst at Mizuho Bank. The yield on the 10-year Treasury note rose to 2.80 percent from 2.77 percent late Friday. On the Nasdaq, 1,642 issues rose and 791 fell for a 2.08-to-1 ratio favouring advancers. In 12.56pm trading, the Standard & Poor's 500 Index climbed 1.6 percent.

Argentina, del nocaut a la gloria ante Chile — Copa Davis
Pocos días antes, la selección argentina de fútbol había derrotado 4-1 a Chile por las eliminatorias al Mundial 2002. Diego Schwartzman tuvo un rendimiento eficaz para darle dos puntos al conjunto nacional.

Merck shares rose 5.2 per cent after the drugmaker's blockbuster cancer drug, Keytruda, met the main study goal of helping previously untreated lung cancer patients live longer. The Dow is up 472.42 points or 2% at 24,451.52, the Nasdaq is up 110.90 points or 1.6% at 7,061.24 and the S&P 500 is up 42.71 points or 1.6% at 2,655.87.

Investors are gearing up for the latest USA quarterly earnings season with Blackrock, Citigroup, JPMorgan Chase and Wells Fargo among companies set to report this week. Gene therapy developer AveXis is soaring after drugmaker Novartis agreed to buy it for $8.7 billion.

Computer hardware, semiconductor, steel, and chemical stocks are also seeing considerable strength, moving higher along with most of the other major sectors. JPMorgan Chase was up 1.1 percent. But over the last week the two sides proposed larger tariffs on goods made by the other: early in the week each nation said it could put tariffs on $50 billion in goods imported from the other, and late Thursday the USA said it might put tariffs on another $100 billion in imports while Beijing said it would "counterattack with great strength".

The Labor Department said its producer price index rose by 0.3% in March after edging up by 0.2% in February. While the German DAX Index has advanced by 0.9%, the UK's FTSE 100 Index is up by 0.6% and the French CAC 40 Index is up by 0.5%. Seoul's Kospi added 0.6 percent.

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