Wednesday , June 29 2022

US stocks within a day – US relaxed controls on Huawei Technology stocks rose Dow Jones rose more than 190 points | Anue Yu Heng


The US stock market was higher in midfield on Tuesday, and Dow Jones raised more than 190 points. The news drew attention to the fact that the US has temporarily relaxed the management of the Huawei telecommunications in China and provided a Welsh stock market.

Time Taipei 23:56

Dow Jones Industrial Average rose 121.60 points or 0.45% to 25,796.04.

Nasdaq index rose 70.36 points or 0.92% to 7772.74.

The S&P 500 index rose by 19.21 points or 0.68% to 2859.44.

The price of Boeing shares rose by 1%, which also supported the wider market. The Wall Street Journal reported that bird strikes could have caused a 737 Max crash in March.

The US Department of Commerce said on Sunday evening that it will allow Huawei to purchase goods from the US to maintain its existing network operations and provide Huawei mobile phone software updates until 19 August. The purpose of this initiative is to reduce the impact of the company's global customers.

The analyst said that this enabled the company to avoid the worst. The US government needs to demonstrate some flexibility.

Chip stocks rose, and Micron, Qualcomm and Xilinx both increased by more than 2%.

The news also helped the Chinese stock market to raise it widely. The Shanghai Composite Index closed 1.2%. European stock markets also rose.

A week ago, Trump said that US companies need to be approved before they can do business with Huawei. The trade war between China and the United States has risen so.

Recently, China and the United States have raised tariffs on goods imported from each other and encouraged financial markets. From May to Monday, the S&P 500 and Dow Jones fell more than 3%, while Nasdaq had plummeted 4.9%.

Trade tensions will be difficult to ignite in the short term. Chinese President Xi Jinping said the trade war will not end in the short term. Last week, CNBC reported that the arrangements for trade negotiations had been broken.

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