The shares rose on Thursday after a batch early in the morning after a US court prevented many customs tariffs of President Donald Trump. But the gains have become less powerful as trading from Asia to New York.
S&P rose 500 26 points, or 0.5 % as of 1:03 pm EST. The Dow Jones industrial average increased 26 points, or 0.06 %, and the Nasdaq compound was 0.6 % higher.
“Investors reserve their enthusiasm in verifying a variety of reasons,” said Adam Krisivoli, head of biological knowledge in the research. “To start, the drama of the tariff – Trump has not ended other legal ways to follow the agenda of an aggressive tariff, and investors expect to use it. In addition, popularity “Taco Trade” perspective It has drew the tariff narration significantly in the past two weeks, to the extent that many people have already assumed that the general burden will not be much worse than the foundation line by 10 % when everything is said and done. ”
The gains were greater in Asia, as the markets were the first opportunity to respond to the ruling late on Wednesday by the American International Trade Court in New York. He said that the 1977 Economic Forces Law of 1977, which Trump cited to request huge increases in imports around the world, does not allow the use of customs tariffs.
The tariff threat is still “very real”
The White House immediately resumed, and the long -term result of legal disputes is still unconfirmed. The court ruling also does not affect some Trump tariffs, and not those on foreign steel, aluminum and cars, which were called in a different law.
Trump “is still able to impose a large and long-term tariff through other means,” according to Urik Hoffman-Borchardi, chief investment in global stocks at UBS Global Wealth Management.
This helped to relieve excitement in financial markets, as trading was heading across Europe to the United States, where the gains were more modest.
“The US court’s ruling yesterday added more uncertainty in the commercial relationship of the European Union and the United States, and in nominal value, President Trump’s weakened position. But the risk of definitions is still very real.”
Until the appeal is resolved, there will also be an additional level of Understanding for us companiesSome economists said on Thursday.
Commercial Court decision “suspending the newly imposed customs tariffs on China, Canada and Mexico, along with 10 % global duties”, provides possible relief in the short term in the short term, “but also” provides greater mystery about the future direction of American commercial policy, especially with the attractiveness of the ruling faces, “said Gregory Daco, a chief economist in the field of research.
At Wall Street, technology shares led the road after NVIDIA again topped the expected analysts for profit and revenue in the last quarter.
The chips company grew to become one of the largest and most influential American stock market shares due to frenzy about artificial intelligence technology, and its 5.9 % height was the strongest power by transporting the S&P 500 to the top.
C3AI, a AI application software, jumped by 25.6 % after it recorded a stronger profit than analysts in the last quarter, while I also said that the US Air Force increased from the highest level of the range to the amount of the contract, which could range between 350 million dollars to 450 million dollars. Total revenues grew to $ 108.7 million in the last quarter.
in Bond marketThe treasury was relatively stabilized after some mixed reports on the economy. One of them said that the American economy is likely to shrink in the first three months of the year compared to previous estimates. Another said that American workers have submitted a request for unemployment benefits last week than economists expected.
The return on the cabinet fell for 10 years to 4.45 % from 4.47 % late on Wednesday. The return of the Treasury was two years, which moves closely with expectations for the place that the Federal Reserve will be in interest rates, by 3.96 %, as it was late on Wednesday.
The movements in Europe were more complete. CAC 40 from France increased by 0.3 %, and the DAX Germany was close to the flat.
___
Ap Matt Ott and Elaine Kurtenbach business authors.
