US stock market report August 13 2019
US stock market had a nice rally as very soon after the open news sent the major US stock market indices higher and a buying sentiment for stocks was in place until the close of the trading session. The news for this stock market rally are the following:
President Trump delayed the new tariffs on a large batch of Chinese imports that were supposed to go into effect Sept. 1, and exempted some other Chinese imports altogether. The move deescalates Trump’s trade war with China, and amounts to a tacit acknowledgement by Trump that his tariffs might hurt American consumers too much.Source: Yahoo Finance
Laptops, cellphones, gaming consoles, and other products imported from China won’t face a 10% tariff on Sept. 1, as expected. The Trump administration says the 10% tariffs on those products will go into effect on Dec. 15, instead. But the delay reveals an unwillingness by Trump to raise the cost of products many Americans find essential, suggesting he’s bluffing about ever imposing such a tariff.
The 10% tariff will still land Sept. 1 on other consumer imports from China, including some clothing, footwear, and toys. U.S. importers can apply for tariff exemptions. Another group of Chinese imports will be exempt, supposedly for national-security reasons. Research firm Sandhill Strategy estimates that the list of imports getting a tariff reprieve totals about $155 billion worth of imports per year. That would leave about $145 billion worth of goods subject to the new 10% tariff.
This is the summary for US stock market at close on Tuesday August 13 2019:
- S&P 500: 2,926.32,+42.57(+1.48%)
- Dow 30: 26,279.91,+372.54(+1.44%)
- Nasdaq: 8,016.36,+152.95(+1.95%)
- Russell 2000: 1,510.58,+16.30(+1.09%)
- 10-Yr Bond: 1.6800,+0.0410(+2.50%)
- Vix: 17.52,-3.57(-16.93%)
PT Vale Indonesia Tbk (PTNDF) was the stock with largest gains closing at $0.2420+$0.0600 (+32.97%).
DouYu International Holdings Limited (DOYU) was the stock with largest losses closing at $8.84-$1.09 (-10.98%).
Stock investing – Most active stocks
Apple Inc. (AAPL) was among the most active stocks closing at $208.97+$8.49 (+4.23%).
U.S. Sectors & Industries Performance
All sectors closed higher. Information Technology was the best performing sector +2.47%, Utilities was the worst performing sector +0.04%, Source: Fidelity.
US stock market earnings today
Some of the companies releasing earnings today are Hollysys Automation Technologies Ltd (HOLI), Dillard’s Inc (DDS), Macy’s Inc (M), and NetApp Inc (NTAP).
Stock market news
- The Greek stock market is surprisingly poised for its best performance in 20 years
- Argentina’s Stock Market Decline Is Among the World’s Worst Since 1950
- Stock market surges after Trump administration pushes back China tariffs
Stock market data
Stocks to buy or stocks to sell – stock market newsletter
This report is written by Stavros Georgiadis, CFA Equity Research Analyst, Investment Strategist