Stocks Seeing Moderate Strength In Mid-Day Trading

Javier Stokes
April 5, 2018

As well as the tech problems, investors were also wary after China imposed extra tariffs on 128 US products, deepening a dispute between the world's two biggest economies and stoking concerns about the impact on global growth. Fundamentals are holding the stock market up.

Advancing issues outnumbered declining ones on the NYSE by a 2.98-to-1 ratio; on Nasdaq, a 1.86-to-1 ratio favored advancers. CBS rose 2.5 percent. Major indexes all rose by more than 1% ( on Tuesday, rebounding partially from Monday's sharp selloff.

INVESTOR INSIGHT: "The much-anticipated us tariffs list finally saw the light of day and would be one for markets to digest in today's session", said Jingyi Pan, market strategist at IG.

Major tech names Apple and the FANG group - Facebook, Amazon, Netflix and Alphabet were down between 1.4 percent and 2.6 percent. Tractor maker Deere dropped 2.9%.

Craig Holke, investment strategy analyst for the Wells Fargo Investment Institute, said the market will continue to bounce around as investors worry about changes in trade that could slow down the global economy and company profits.

In overseas trading, most stock markets across the Asia-Pacific region followed US stocks lower during trading on Tuesday. A barrel of USA crude lost 18 cents to $63.33 in electronic trading on the New York Mercantile Exchange.

The wider tech stock decline also came on reports that Apple meant to make more of its own parts, news that slammed European chipmakers such as AMS and STMicroelectronics.

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Tesla Inc. shares (TSLA) gained 7.3% in its biggest one-day gain in about a year.

Stocks have fluctuated over the course of the trading session on Tuesday and are seeing moderate strength in mid-day trading.

Among individual stocks, CBS added 4.2 percent to 52.86 dollars on reports it plans to make an offer to buy corporate sibling Viacom.

Which economic reports are in focus? The news is a positive read on the labor market ahead of Friday's closely watched government data on nonfarm payrolls.

Reports on private sector employment, factory orders, service sector activity and global trade may also attract attention in the coming days. We're on the verge of the earnings reporting season. Amazon rose a day after plunging on concern the company will face a regulatory crackdown under President Trump.

With pork products among the goods subject to the Chinese tariffs, shares in Tyson Foods, a major US meat company, dropped 6.3 percent Monday.

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