Trump’s customs break triggered Rallye on Wall Street – DiePresse.com
Shares and oil price, dollars and Bitcoin increased, titles from Tesla, Nvidia and Apple even double digits.
The view of a break in the global customs dispute has triggered a course fireworks on Wall Street. After the announcement by US President Donald Trump, the Dow-Jones index of the default values increased by seven percent on Wednesday evening. The broader S&P 500 climbed by eight percent and was on the way to the highest daily win in five years. The index of the Nasdaq tech exchange was also strong and increased by more than ten percent.
Trump, with the exception of China, has largely put his customs increases on hold for 90 days. According to US Finance Minister Scott Bessent, the customs suspension should give time for negotiations. « The starting signal for a recovery rally could have been given, » said expert Timo Emden from the analysis house Emden Research. « However, investors should keep in mind that the customs dispute is still anything but off the table. The motto should continue to be on the market: »
In the individual values, titles that had previously been very popular increased. Among other things, it went up for papers from the pharmaceutical, aviation and financial sector. TeslaStocks climbed by more than 20 percent and also NvidiaAmazon and Apple gave up in double digits.
Bond sale continues
Oil prices and Bitcoin also rose after the announcement. Bitcoin climbed over $ 81,000 on Wednesday evening according to Trump’s statements. Before the statements, the Bitcoin had cost significantly less than $ 78,000.
However, the sale on the US bond market continued. The yield of ten-year-old US bonds was 4.423 percent after 4.260 percent on Tuesday. « There are signs that the credibility and reliability of the USA suffers as a trading partner, » said Philippe Ferreira from the asset consultant Kepler Cheuvreux. The « safe investment port » gold, however, continued its upward course and increased by 2.3 percent to around $ 3052 per troy ounce.
Central bank remains careful
The uncertainty around Trump’s customs dispute had let the stock exchanges collapse in the past few days. In the worldwide trade war, China countered the youngest US tariffs in the same amount. The two largest economies in the world initially have 34 percent and now another 50 percent on the already existing sentences. The customs set for imports from China is now 125 percent. However, investors largely left the logs of the Session of the US Federal Reserve Fed in March.
The US Federal Reserve had already adjusted to a careful gait before the customs conflict opened open. This emerges from the notes presented on Wednesday. On the one hand, this « cautious approach » could be to keep interest rates high in persistent inflation. On the other hand, a weakening economy could also require a reduction.
Individual values rose strongly
The luxury holding company Capri with a course leap by 27 percent caused a conversation. The Italian fashion company Prada is about to take over the competitor Versace for $ 1.4 billion from Capri, reported the « Financial Times ». Walmart also went steeply up. Despite the global customs dispute, the retailer had confirmed his forecast for the current financial year. « We learned how to survive turbulent times, » said CEO Doug McMillon. The Walmart share climbed by ten percent. (Reuters)
