© Reuters. The merchants work on the floor of the NYSE in New York.
By Amy fall daniel
(Reuters) – US stocks remained stable on Tuesday as technology stocks recovered from their session lows, which helped calm nerves caused by President Donald Trump's latest tariff threat.
Trump said he expected to move forward with the increase in tariffs of $ 200 billion in Chinese imports to 25 percent from the current 10 percent by early 2019.
Trump is expected to meet with Chinese President Xi Jinping at the G20 summit in Buenos Aires this week, but his latest comments have given little hope that the two countries will resolve their trade dispute, which has affected financial markets this year. .
The trade-sensitive industrial sector () fell by 0.76 percent, with Boeing Co (N :), the largest US exporter to China, with a decrease of 0.3 percent and Caterpillar Inc (N 🙂 0.9 percent.
"Tariff issues are the most important factor in the markets, and will continue to be for a while, especially in view of Friday's meeting," said Randy Frederick, vice president of operations and derivatives at Charles Schwab (NYSE 🙂 in Austin, Texas
Apple Inc (O 🙂 was off 0.4 percent. Its shares had fallen as much as 2.1 percent in the previous session, after Trump said the fees could be placed on the company's laptops and iPhones imported from China.
The Philadelphia SE Semiconductor () index rose 0.90 percent, reversing previous losses. Maxim Integrated (O 🙂 led the gains with a 5.5 percent increase in news that it was scheduled to join the S & P 500.
The recovery was also favored by a 1.5 percent increase in Netflix Inc (O 🙂 and a 0.5 percent increase in Amazon.com Inc (O :).
"Many of these rebounds you see are of significant oversold conditions," said Michael Antonelli, managing director of institutional sales at Robert W. Baird in Milwaukee.
At 11:56 am EDT, the Dow Jones Industrial Average () was down 30.01 points, or 0.12 percent, at 24,610.23, the S & P 500 () was up 2.15 points, or 0.08 percent, at 2,675.60 and the Nasdaq Composite () rose 9.06 points, or 0.13 percent, to 7,090.92.
Federal Reserve Vice President Richard Clarida said the central bank should continue to raise interest rates gradually, but it is "especially important" to closely monitor the new economic data, as monetary policy is approaching a neutral stance .
Federal Reserve Chairman Jerome Powell is scheduled to speak on Wednesday and his comments will be closely watched for new clues on the path of rising interest rates and the health of the economy in the face of rising trade tensions. .
United Technologies Corp (N) fell 5.9 percent, the most in the S & P 500 benchmark, after its plan to split into three companies failed to impress investors.
The decreasing problems outperformed the promoters in a ratio of 1.52 to 1 on the New York Stock Exchange. The problems in decline outperformed the promoters in a ratio of 1.47 to 1 on the Nasdaq.
The S & P index recorded two new highs of 52 weeks and four new lows, while the Nasdaq recorded 13 new highs and 91 new lows.