Dow Jones Jumps 400 Points On Trump Tariff News
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Stocks edged higher on Thursday as Wall Street assessed the outlook for President Donald Trump’s tariff agenda, which remains in limbo as federal courts deliberate its legality.
Stocks jump after Trump delays EU tariffs until July 9 to give more time for talks. Some deals are also expected this week. Consumer confidence rises.
U.S. stocks ended slightly higher Thursday, hanging on to small gains after an appeals court ruled President Donald Trump's tariff measures could remain in place, pending an appeal of a trade-court ruling that would block them.
Dow Jones has recently made an attempt to settle above the resistance at 42,700 – 42,800 but lost momentum and pulled back towards the support level at 42,000 – 42,100. In case Dow Jones settles below the 42,000 level, it will head towards the next support at 41,500 – 41,600.
On Wall Street, tech stocks led the way after Nvidia once again topped analysts’ expectations for profit and revenue in the latest quarter.
Consumer discretionary stocks fell, while staples rallied as President Trump criticized China on trade negotiations, consumer confidence remained shaky, and inflation moved closer to target.
Follow along for the latest tariff news, plus live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.