The main indices of Wall Street quoted with slight changes in this Friday’s operations, while investors dealt with little clarity in the commercial front between the United States and China, despite the signs of a possible moderation of the Beijing position.
On the positive side, Alphabet rose 3.6% after the Google matrix presented encouraging results of the first quarter, relieving investors’ concern about the profitability of the large investments focused on artificial intelligence.
The general atmosphere, however, was tense after the president of the United States, Donald Trump, said in an interview that he would consider a “total victory” that the country has tariffs of up to 50% to foreign imports within a year.
Trump also said that his government is talking to China to reach a tariff agreement and that Chinese President Xi Jinping called him. Beijing, however, continues to deny that there are negotiations.
MOST CONTEXT: Trump claims to have received a call from XI to discuss key tariff agreements with EU
Wall Street expects to see some clarity in negotiations with China
The contradictory news countered optimism following the Chinese concession of exemptions to some US imports.
“The market is waiting to see how things advance,” said Clayton Allison, Financial Prime Capital Portfolio Manager. “Everyone is trying to find out what is true, which is a kind of political theater,” he added.
At 14.19 GMT, the S&P 500 index earned 3.21 points, or 0.06%, to 5,487.98 units, while the NASDAQ rose 73.04 points, or 0.43%, to 17,239.08 units. Meanwhile, the industrial average Dow Jones fell 185.85 points, or 0.46%, to 39,907.55 units.
The results of the first Alphabet quarter also boosted other social media companies, and target rose 1.6%. The communication services sector advanced 1.5%.
Most of the growth and megacapitalization values ​​also gained, which promoted Nasdaq, which has a strong technological component.
With Reuters information
Inspy, discover and share. Follow us and find what you are looking for on our Instagram!
