\u201cThat being said, we are going through something that we\u2019ve never gone through before,\u201d Miller said. \u201cThis China trade agreement issue is changing investing into something more like speculating because no one knows what direction this thing can go.\u201d<\/p>\n\n\n\n
Boeing climbed 1.7% while Apple rose 1.6%. Caterpillar shares gained 1.7%. Bank shares also rose broadly. Citigroup and Bank of America rose more than 1% each while J.P. Morgan Chase gained 0.8%.<\/p>\n\n\n\n
Microsoft shares rose 1.1% to boost the tech sector. Cisco Systems also gained 1.4% after an analyst at Bank of America touted it as the tech stock to buy amid rising U.S.-China trade fears<\/a>. Coca-Cola shares rose 1.3% after Morgan Stanley upgraded it to overweight from equal weight. The bank named the soda maker its \u201ctop mega-cap staples pick<\/a>. \u201d<\/p>\n\n\n\n Greg Luken, CEO of Luken Investment Analytics, thinks this is a \u201cdead-cat bounce,\u201d or a temporary recovery, however. \u201cI think this is going to last for a while,\u201d he said. \u201cThis is not something that\u2019s going to be resolved tomorrow and anybody who says they know exactly how this will play out is spinning a yarn.\u201d<\/p>\n\n\n\n \u201cOnly history will tell us if this is good or bad,\u201d Luken added.<\/p>\n\n\n\n Major U.S. indexes tumbled Monday after news that China plans to raise tariffs on $60 billion worth of U.S. imports<\/a>, beginning on June 1. The list of targeted goods ranges from TV cameras to tequila<\/a>, and includes a range of agricultural products. Beijing\u2019s move comes after Washington announced last week it would increase tariffs from 10% to 25% on a bulk of Chinese imports.<\/p>\n\n\n\n On Monday, the Dow and S&P 500 fell 617 points and 2.4%, respectively, their worst performances since early January. The Nasdaq dropped 3.4%, its biggest one-day loss of 2019.<\/p>\n\n\n\n Stocks rose on Tuesday, regaining some of the sharp losses from the previous session, as investors weighed the impact of the escalating trade war between the United States and China.<\/p>\n\n\n\n The Dow Jones Industrial Average<\/a> rose 207.06 points to 25,532.05, boosted by gains in Visa and Boeing shares. The 30-stock index also posted its best day since April 12. The S&P 500<\/a> advanced 0.8% to 2,834.41 as tech shares outperformed. The Nasdaq Composite<\/a> climbed 1.1% to end the day at 7,734.49. \u201cThe reason we\u2019re seeing this recovery is because fundamentals haven\u2019t changed,\u201d said Kevin Miller, CIO at E-Valuator Funds. He noted the U.S. economy remains strong.<\/p>\n\n\n\n \u201cThat being said, we are going through something that we\u2019ve never gone through before,\u201d Miller said. \u201cThis China trade agreement issue is changing investing into something more like speculating because no one knows what direction this thing can go.\u201d<\/p>\n\n\n\n Boeing climbed 1.7% while Apple rose 1.6%. Caterpillar shares gained 1.7%. Bank shares also rose broadly. Citigroup and Bank of America rose more than 1% each while J.P. Morgan Chase gained 0.8%.<\/p>\n\n\n\n Microsoft shares rose 1.1% to boost the tech sector. Cisco Systems also gained 1.4% after an analyst at Bank of America touted it as the tech stock to buy amid rising U.S.-China trade fears<\/a>. Coca-Cola shares rose 1.3% after Morgan Stanley upgraded it to overweight from equal weight. The bank named the soda maker its \u201ctop mega-cap staples pick<\/a>. \u201d<\/p>\n\n\n\n Greg Luken, CEO of Luken Investment Analytics, thinks this is a \u201cdead-cat bounce,\u201d or a temporary recovery, however. \u201cI think this is going to last for a while,\u201d he said. \u201cThis is not something that\u2019s going to be resolved tomorrow and anybody who says they know exactly how this will play out is spinning a yarn.\u201d<\/p>\n\n\n\n \u201cOnly history will tell us if this is good or bad,\u201d Luken added.<\/p>\n\n\n\n Major U.S. indexes tumbled Monday after news that China plans to raise tariffs on $60 billion worth of U.S. imports<\/a>, beginning on June 1. The list of targeted goods ranges from TV cameras to tequila<\/a>, and includes a range of agricultural products. Beijing\u2019s move comes after Washington announced last week it would increase tariffs from 10% to 25% on a bulk of Chinese imports.<\/p>\n\n\n\n On Monday, the Dow and S&P 500 fell 617 points and 2.4%, respectively, their worst performances since early January. The Nasdaq dropped 3.4%, its biggest one-day loss of 2019.<\/p>\n\n\n\n In a note to clients Monday, Citi said its China economists are \u201ccautiously optimistic that a trade deal can eventually be signed.\u201d But it added that the \u201cwindow to avoid further escalations in US\/China tensions is closing fast.\u201d<\/p>\n\n\n\n \u201cOngoing trade flare-ups may continue to swing the stocks in the near-term, but we think the market may have priced a lot of this in,\u201d Citi said. President Donald Trump<\/a> tweeted on Monday that China will be \u201churt very badly<\/a> if you don\u2019t make a trade deal. \u201d He also said companies would be forced to leave the country without an agreement, adding that China had a \u201cgreat deal\u201d almost completed but they \u201cbacked out.\u201d Stocks came off their lows in afternoon trading Monday after Trump said he had not decided if he would slap tariffs on the remainder of Chinese goods. <\/p>\n\n\n\n Trump also tweeted on Tuesday the U.S. is in a \u201cmuch better position now than any deal we could have made,\u201d noting that \u201cbillions of dollars\u201d are returning to the U.S.<\/p>\n\n\n\n Reference:https:\/\/www.cnbc.com\/2019\/05\/13\/us-stocks-react-to-china-trump-trade-tensions.html<\/p>\n","protected":false},"excerpt":{"rendered":" Stocks rose on Tuesday, regaining some of the sharp losses from the previous session, as investors weighed the impact of the escalating trade war between the United States and China. The Dow Jones Industrial Average rose 207.06 points to 25,532.05, boosted by gains in Visa and Boeing shares. The 30-stock index also posted its best day since… Continue reading Dow rises more than 200 points, posts best day in a month to claw back some of Monday\u2019s drop<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"_links":{"self":[{"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/posts\/462"}],"collection":[{"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/comments?post=462"}],"version-history":[{"count":1,"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/posts\/462\/revisions"}],"predecessor-version":[{"id":473,"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/posts\/462\/revisions\/473"}],"wp:attachment":[{"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/media?parent=462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/categories?post=462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/tags?post=462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/wordpress-596623-2274183.cloudwaysapps.com\/wp-content\/uploads\/2021\/11\/DJI_chart.1557864669679.jpeg\")
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