New York, (Reuters) .- The S&P 500 and the Nasdaq closed up on Wednesday, promoted by profits in technological actions and news on a commercial agreement between the United States and Vietnam, which helped dissipate concerns about a prolonged commercial war.
The Nasdaq rose, backed by Nvidia, Apple and Tesla.
Investors will be attentive to the non -agricultural payroll report on Thursday to obtain clues about the speed with which the Federal Reserve could reduce indebted costs.
The huge tax and expenditure bill of former president Trump is addressed to the House of Representatives for possible final approval after the Senate approved the legislation. Non -partisan analysts estimate that it will add 3.4 billion dollars to national debt during the next decade.
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The markets opened down after the data showed that private payrolls fell unexpectedly in June and that employment profits of the previous month were less than initially estimated.
A weakened economy “is a double -edged sword,” said Jim Awad, senior general director of Clearstead Advisors LLC in New York.
“The cooling of employment that induces the Fed to lower the rates would be positive. But if it weakens too much, it would be negative for growth and profits.”
Investors have also been aware of whether the administration of President Donald Trump continues to advance in commercial matters, said Michael Arone, head of investments in State Street Global Advisors, in Boston.
“There is some relief regarding trade advances. The agreement with Vietnam was a news welcome,” said Arone.
According to preliminary data, the S&P 500 won 0.47% to 6,227.29 points, Nasdaq Composite added 0.94% to 20,393.13 and Dow Jones lost 0.02%, to 44,486.24.
The United States and Vietnam reached a commercial agreement that establishes 20% tariffs on many of the exports of the country of Southeast Asia.
The Trump administration has suggested that an agreement with India could also be completed soon, although it has indicated that other agreements would not be ready before July 9.
Tesla rose after a descent earlier this week, even after the electric vehicle manufacturer reported a strong fall in the delivery of the second quarter. Some operators commented that the figures were less severe than the most pessimistic analysts predicted. The action accumulates a fall of more than 20% so far this year.
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The attention is put in the most complete report of non -agricultural payroll that will be published on Thursday, one day earlier than usual, since the markets will remain closed on July 4 by Independence Day. Reading is expected to show that the growth of employment in the US slowed in June and that the unemployment rate rose to 4.3%, according to a reuters survey to economists.
“Investors are likely to wait for this to push the Fed to cut the rates before after,” said Arone.
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