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Wall Street rises as trade worries ease

Video Credit: Reuters - Business (Amazon FireT - Duration: 01:23s - Published < > Embed
Wall Street rises as trade worries ease

Wall Street rises as trade worries ease

U.S. stocks ended higher on Wednesday as reports that U.S. President Donald Trump would hold off on imposing tariffs on imported cars and parts eased growth concerns.

Fred Katayama reports.

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Wall Street rises as trade worries ease

Stocks on Wall Street rose Wednesday on optimism over trade and hopes for global growth.

Investors went back shopping for stocks on reports that President Donald Trump will put off a decision on whether to impose tariffs on imported autos and parts.

The Dow rose half a percent, S&P 500 .6 percent, and the Nasdaq more than 1 percent.

Crossmark Global Investments chief market strategist Victoria Fernandez: SOUNDBITE: CROSSMARK GLOBAL INVESTMENTS CHIEF MARKET STRATEGIST VICTORIA FERNANDEZ, (ENGLISH) SAYING: "We're not surprised at the volatility we're seeing.

There's so many uncertainties going on right now in the markets, whether it's going to be geopolitical, whether it's earnings season, and there's all sorts of things going on out there.

So you're going to have some pullbacks.

We expected that.

But we do think we will continue to have a move higher through the rest of the year." Shares of automakers GM and Ford rose.

Sources told Reuters Trump is expected to delay his tariff decision on autos and auto parts by up to six months as trade talks continue with the EU and Japan.

AN UNEXPECTEDLY WEAK RETAIL SALES REPORT drove down shares of retailers Nordstrom, J.C.

Penney, and Kohl's.

AND AT Macy's - its CEO said WASHINGTON'S THREAT TO PUT TARIFFS ON AN ADDIONTAL $300 BILLION DOLLARS WORTH OF CHINESE IMPORTS WOULD HURT APParel AND accessory SALES.

Tech stocks provided the biggest boost to the markets.

A rally in Facebook and Alphabet shares lifted the sector.

Facebook said it was restricting access to its livestreaming feature to curb online violence.



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