new York The New York Stock Exchanges have recovered well from their worst day of the year at the beginning of the week. Bargain hunters helped the US exchanges on Tuesday. The intervention of the Chinese central bank, which set the yuan rate higher in its daily fixing, also raised the mood.
The People's Republic had devalued the Yuan on Monday and said Chinese companies would no longer import agricultural goods from the US. Both were viewed as a reaction to last week's US President Trump imposed punitive tariffs. On Tuesday, the Chinese central bank set the middle rate of the yuan higher.
Trump's economic adviser Larry Kudlow emphasized that the US was still open for talks. "The door to additional negotiations is open," Kudlow said Tuesday in Washington. A Chinese delegation is due to travel to the US in September. Trump would like to make a deal. "But it must be a deal in our interest as well as in their interest."
The most important indices
The Dow Jones Index of Standards gained 1.2 percent to 26,029 points. The broader S & P 500 advanced 1.3 percent to 2881 points. The index of the technology exchange Nasdaq improved by 1.4 percent to 7833 points.
Uncertainty was caused by the US government's decision to officially brand China as a currency manipulator. However, the fact that China has stabilized its currency gives investors hope that this will not escalate into a major problem, said Rick Meckler, partner at asset manager Cherry Lane Investments.
Single values at a glance
Among the individual values, the recently severely battered technology stocks were among the winners: the titles of Apple just under two percent, the shares of semiconductor manufacturers Intel, Advanced Micro Devices and Nvidia noted 0.7 to 3.1 percent firmer.
A quarterly report on market expectations and a more optimistic forecast encouraged investors to get started with Take-Two. The shares of the video game provider went up by 8.70 percent. The developer of computer games has a strong quarter behind him and raised his outlook. Recently, the titles as well as those of Activision Blizzard and Electronic Arts under critical remarks by US President Donald Trump over video game makers after the bloodlust in the US states of Texas and Ohio suffered with more than 30 dead. Activision and Electronic Arts gained more than 1 and 1.7 percent, respectively, on Tuesday.
The shares of the fertilizer manufacturer Mosaic broke after disappointing statements for the past quarter temporarily in the double-digit percentage range and closed 6.69 percent lower. In addition, had the K + SCompetitor lowered its annual target for adjusted earnings per share.
International fragrancing company International Flavors & Fragrances (IFF) saw its shares fall nearly 16 percent after its rival Symrise and Givaudan submitted the interim report and lowered the revenue outlook. On the other hand, Dupont's papers moved strongly after a circular message about a possible division sale. The shares of the specialty chemicals group closed at 3.74 percent.
Ford gained 2.71 percent. The analysts of the bank Morgan Stanley had upgraded the car manufacturer's stock to "Overweight".
That's what investors say
For investors in Europe, the trade war between the US and China drove deep lines of worry. "Following the recent escalation of the trade dispute, a large proportion of investors have lost patience with the two United States and China fighters and have largely abandoned their positions," said Jochen Stanzl, chief analyst at CMC Markets brokerage. The Dax closed 0.8 percent weaker at 11,568 points, the Euro Stoxx 50 lost 0.6 percent to 3291 points.
On the Chinese mainland exchanges, the yuan's price stabilized after reaching seven yuan against the dollar on Monday. The central bank had previously set the mid-point-fixing at 6.9683 yuan, slightly lower than expected. Stockbrokers saw in it a conscious step by the Chinese central bank. It looks as if the central bank wants to send a signal with this step that they have the situation under control, said Michael Hewson, chief analyst at the broker CMC Markets.
Economists see the recent concern with concern. "This could be the beginning of an irreversible trade conflict between the two countries," said DIW President Marcel Fratzscher. China has always manipulated its currency. "But to justify this manipulation through the trade conflict must inevitably lead to an escalation with the US."
More: The trade dispute is causing troubled times not only on the stock markets. Investors should also be wary of other investments.
(t) Wall Street (t) Stock Exchange (t) Trading Dispute (t) China (t) yuan (t) Investment (t) Stock Market (t) Stock (t) Standard & Poor's (t ) CMC Markets (t) Electronic Arts (t) People's Bank of China (t) Givaudan (t) Activision Blizzard (t) Dax (t) Nvidia (t) Cherry (t) Take-Two Interactive Software (t ) Symrise (t) Apple (t) K + S (t) DIW (t) Intel (t) Activision Inc (t) Morgan Stanley (t) Donald Trump