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Home / Business / Dow rises 100 points on soothing signs from Walmart and China

Dow rises 100 points on soothing signs from Walmart and China



Walmart said the outlook for the rest of 2019 has improved as Americans shopped more at US stores in the second quarter. With its vast network of thousands of stores, Walmart is a wave of consumer spending.

For investors, in contrast to a threat from China. On Thursday, the Chinese Ministry of Finance said it would "take the necessary action" after the US announced a new $ 10 billion US $ 10 billion tariff in Chinese goods earlier this month. China said the new tariffs "severely violated consensus" presidents Donald Trump and Xi Jinping agreed at the G20 meeting earlier this year.

China has previously said it would retaliate against any new tariffs that are tat for tat, but the statement nonetheless skewed markets.

Still, China's Foreign Ministry spokeswoman Hua Chunying reassured investors when fears a press conference on Thursday, saying that China is still hopeful that the US and China can "work out a mutually acceptable solution."

Dow ( INDU ) got 1
00 points. S&P 500 ( SPX ) was 0.4% higher. Nasdaq ( COMP ) a barometer for the technical industry, was up 0.4%. Technical companies will be particularly harmed by the escalation of the trade wars.
Despite a healthy US economy and relatively strong corporate earnings, three dark clouds have periodically pulled over the US stock market for the past year and a half: the global economic downturn, the trade war and the spook warning sign in the bond market.

All three bad items are now converging.

Several signs of the global economic slowdown emerged on Thursday as China injected $ 2.4 billion into Hong Kong's economy, according to Bloomberg. The protests in Hong Kong have hurt the tourism economy. The airport has been closed after protesters barricaded themselves inside.
On Wednesday, the yield curve reversed between the 10-year and 2-year government bonds. The classic recession signal frightened investors. Although the 2/10 yield curve has declined, government bond yields, which are moving in the opposite direction of bond prices, remained lower Thursday. The 30-year return fell short below 2% for the first time in history.
Wednesday was the worst day for markets in 2019. Dow plunged 800 points and the broader stock market fell about 3%.

– CNN's Serenitie Wang and Steven Jiang contributed to this report.


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