US stocks continue their slow growth after Chinese tariff waivers
Investors prepare for reopenings.
US stock index edged higher on May 12.
Dow gained 0.43% - 104 points. S&P 500 futures gained 0.35% - 10.25 points. Nasdaq 100 gained 0.37% - 34.25 points.
Simon Property stock earned 11.3%. The largest mall operator in the United States announced that around 50% of its facilities are going to open next week.
Generally positive sentiment has been further reinforced by China’s announcement of tariff waivers for 79 US products. The list of the privileged goods include ores and metals.
The tension in US-China relations seem to be dying off after the latest round of trade negotiations. The representatives agreed, that both sides are fulfilling their obligations in normalizing trade.
At the same time, the confidence of the investors has been shaken by the news of the possible second wave of the virus. Five new cases were registered in Wuhan, where the pandemic reportedly originated.
Later today the Senate will hear the testimonies from senior health officials – including Anthony Fauci, the country’s top expert on infectious diseases - on the implications of reopening the U.S. economy.